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Yours Clothing and Long Tall Sally seek investors

Womenswear businesses Yours Clothing and Long Tall Sally are separately considering options for investment, it emerged this week. 

Andrew Killingsworth, founder of Peterborough-based plus-size womenswear retailer Yours Clothing, has hired US accounting firm Grant Thornton to assess its options for growth.

The business, which has 82 stores across the UK, made a £2m profit after tax in the year to February 2015, against sales of £48.7m. It opened seven stores in the Middle East during the period.

In September, it announced plans to launch plus-size menswear brand Bad Rhino for spring 16.

Killingsworth told Drapers the sale of a stake in the business would fund its expansion both in the UK and internationally.

“Yours Clothing has been growing at a fast rate over the last couple of years,” he said. “We have further plans to expand and improve stores, develop Bad Rhino, expand the website, expand internationally and invest in people and systems.”

The investment would build on a £1.8m loan from Barclays in November.

Meanwhile, niche retailer Long Tall Sally is working with advisers at Financo on its future direction, which could also involve the sale of a stake.

The company is owned by Amery Capital, which is run by former Marks & Spencer director Maurice Helfgott, and has 11 stores in the UK, seven in Canada, four in Germany and two in the US.

Chief executive Andrew Shapin confirmed the retailer is in “the early stages of considering its strategic options”.

In the year to January 31 2015, sales at Long Tall Sally increased 10% to £30.1m, delivering a profit of £568,833.

 

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