Lifestyle retailer Fat Face has appointed banks Citi and Jeffries to help advise on its flotation.
In December Drapers revealed the chain had hired financial advisory and asset management firm Lazard to conduct a review of its business, ahead of what was thought to be a move to go public. In January chief executive Anthony Thompson told Drapers the business was looking seriously at options and was “examining an IPO in more detail”.
It has now been reported that the float could take place within months after Fat Face and its owner private equity group Bridgepoint have hired the banks. Sky News has reported that financial services company Canaccord Genuity is also expected to be hired.
The retailer’s revenues have been growing and Fat Face’s earnings soared in the first half of the year. Total sales rose 15% to £98.9m in the 26 weeks to November 30 as EBITDA increased by 57% to £19.6m. Ecommerce sales grew by 55% and now represent 14% of overall sales.
Over Christmas the retailer continued solid growth, delivering a 5% increase.