Updated: The Original Factory Shop has today denied that the value department store has been put up for sale by private equity owner Duke Street.
Following reports in the Daily Telegraph today, the Original Factory shop issued a statement which said: “Following media speculation regarding a sale of The Original Factory Shop, Duke Street would like to state that it is not running a sale process for the company. There is considerable potential for growth of the business and Duke Street will continue to work with the management to maximise these opportunities.”
A spokeswoman denied that KPMG had been appointed as advisors to the 134-store chain.
This morning the Daily Telegrpah reported that the chain had been given a £200m price tag after it defied the downturn with rising sales and earnings.
The chain, led by former Debenhams managing director Angela Spindler, reported sales of £132m in the year to March 28, up 35% on last year.
The private equity group backed a £69m management buyout in 2007.