fashion

Notonthehighstreet reportedly eyeing 200 million pound sale


Notonthehighstreet reportedly eyeing 200 million pound sale

British e-tailer Notonthehighstreet is reportedly mulling a 200 million
pound sale following surging sales during the pandemic.

The retailer, which sells a range of homeware, accessories and baby and
child clothing, is working with investment bank Evercore on a potential
auction, Sky News reports.

City sources told the news publication that a number of trade bidders
and private equity groups have expressed an interest in buying the
company.

Insiders said investors were hoping to secure a price as high as 250
million pounds for the business and that a preferred bidder could be
selected before Christmas.

Founded in 2006 by Holly Tucker and Sophie Cornish, the retailer acts as
a marketplace for 5,000 small business-owners.

In its most recent trading update for the 2019 financial year, the
company reported total revenues of just over 35 million pounds – flat on
the previous year.

However, it attracted more than 2.5 million customers during the period
and managed to narrow its post-tax loss in the year to March 2019 to 1.5
million pounds.

Photo credit: Notonthehighstreet



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