Jane Norman has approached Aurora non-executive president Stewart Binnie to become its new chairman, according to reports.
Women’s young fashion chain Jane Norman is understood to be in talks with Binnie, who would retain his role at Aurora, the group behind chains Karen Millen, Coast, Oasis and Warehouse, if he accepted the job, according to The Independent.
Both Jane Norman and the Aurora chains were hit by the Icelandic banking crisis of 2008 when both had backing from Icelandic investment firm Baugur and banking firm Kaupthing.
Jane Norman has experienced difficult trading recently with EBITDA falling to £15.8m, down from £29.5m the year before on flat sales of £148.8m. However, Jane Norman finance director and deputy chief executive Ian Findlay told Drapers in February that like-for-like sales in the 10 weeks to February 6 rose 5% and that profits were up on last year.