Reiss’s private equity owner has delayed a potential sale of the fashion chain bcause of the coronavirus outbreak, Drapers understands.
Private equity firm Warburg Pincus, which bought a majority stake in the retailer in 2016, appointed investment bank Rothschild to review potential options, including a sale in January.
However, it has now postponed an upcoming auction of the business.
The news comes after Reiss reported its strongest-ever annual results. Total sales rose 21.9% to £227.4m for the year ending 1 February.
Reiss CEO Christos Angelides said the results “represent the culmination of driving Reiss through two years of transformation”.
During the period, Reiss opened 67 new points of sale: 18 in the UK, 17 in Europe, 29 in the US and three in the Asia-Pacific region. It now has 234 total stores and points of sale.
Reiss and Warburg Pincus have declined to comment.