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Two bidders battle it out to land Ravel brand name

A sale of the Ravel brand name is understood to be imminent, with final bids due next week.
The sale of the Clarks-owned name is being handled by financial advisory firm KPMG, which is understood to have been touting the name to several footwear retailers and suppliers over the past fortnight. Clarks is believed to be seeking in the region of £2 million for the name.

Jones Bootmaker and Dolcis boss John Kinnaird are understood to have expressed an interest, but both are thought to have walked away from a deal, leaving two unknown parties to battle it out.

Clarks put Ravel up for sale four months ago, saying it was closing the business after failing to halt poor trading. But it has been unable to find a buyer for the business as a going concern and some stores have been converted to Clarks, and the remainder put up for sale.

A source close to Clarks said: “Now is the time to sell the brand if Clarks want to make any money from it. It is confident it can achieve a deal.”

• Stylo, the 300-store group that runs the Barratts, Priceless and Shellys fascias, posted losses of £7.5m for the six months to August 4, against a loss of £7.7m last year. Sales were £100m, compared with £104.5m the year before.

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