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DISCLAIMER The publishers, Business Data International Ltd, advise that recipients carry out further investigations and seek further advice before acting on any information contained in this report. Businesses for sale information may have been provided to us directly by potential vendors or agents of the businesses described or it may have been already published by the vendors or agents. Comments in the ON THE MARKET section may in fact have no substance at all over and above market rumour. Information contained herein has not necessarily been independently verified by Business Data International Ltd. It is not intended to form the basis of any investment decision to purchase any of the businesses in respect of which the information is contained within these pages. These pages are provided to enable the recipient to decide whether he wishes to make further investigations of the businesses of which brief information is provided. Business Data International Ltd do not act as agents or intermediaries in respect of any of the companies listed. Inclusion in this report does not guarantee that the company was or still is available for sale or that any potential purchaser will be able to obtain further information. Business Data International Ltd expressly disclaims any responsibility or liability for the accuracy or completeness of the information contained within these pages and furthermore no part of this report should be relied on in making any investment decision as to the purchase of the business(es). The publishers will take immediate legal action against any party who copies, photocopies, scans or reproduces by any means whatsoever any part of this report or its associated internet site at
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Latest news on rumoured and reported divestments and disposals of larger UK companies.
Aquascutum, the luxury clothing shop for men and women, may soon have a new owner. Interested parties are believed to include Hong Kong firm YGM Trading, which owns the rights to the Aquascutum brand in Asia, while several private equity firms are also thought to have made their interest known including the
Carlyle Group’s Asian business. Rothschild is said to be managing the sale process for the retailer, and was initially brought in last year to look over approaches to the business by Aquascutum boss, and owner of Jaeger, Harold Tillman. Mr Tillman bought the heritage brand with former Jaeger chief executive Belinda Earl from Japanese firm Renown in September 2009. Ms Earl exited Aquascutum recently due to ill health, after serving in the post for over two years. Aquascutum recorded a loss of £10 million on revenues of £28 million for the year ending February 2010 in its last posted accounts. Founded in 1851, the firm designed the first waterproof material and raincoat for rainy weather in the UK. It also sells men’s and women’s clothing, handbags, hats, ties, scarves and golf clothing items, with its distinctive check pattern.
OpCapita, Comet’s new owner, has unofficially placed 61 of the electricals stores on the market as it prepares to negotiate terms with Comet’s landlords. Henry Jackson and Mr Clare of OpCapita are due to meet with Comet’s landlords
next week to discuss plans and its rents, The Times reported. 61 stores have been earmarked for disposal with property agents already circulating information on the sale, which would comprise 34 underperforming stores and another 37 it would sell if it can secure a premium figure higher than the store makes in yearly profits. Comet currently operates from 243 stores across the country with an 8,000-strong workforce. The possible sale casts some uncertainty over the employees’ future. Stores set for a sale are located in Cambridge, Telford, Arnold, Nottingham and Rugby, amongst other places. Plans to cut about 750 jobs in Comet’s service and repair operations this year are already in place. Its previous owner Kesa had placed an emphasis on after-sales care inspired by the success of its French business, Darty. Comet has faced rising competition from supermarkets and internet sellers of electrical and white goods in the past few years. It is expected to announce losses of £35 million for 2012, after making losses of £8.9 million last year. Sales are forecast to be down from £1.5 billion last year to £1.3 billion this year.
The Co-operative Group is eager to sell Sunwin Services, its cash handling division, to raise the funds to facilitate its purchase of a portfolio of Lloyds’ bank branches. Advisers from Buckingham Corporate Finance have been brought in to secure a new owner for Sunwin Services, which provides secure transport of money for shops and cash dispensers, IT services and fire security. While a price for the business -
which has a 1,500-strong workforce – is uncertain, industry experts have placed its value in the region of £30m to £40m. It is expected that Sunwin will attract other security and facilities management firms and private equity buyers. Lloyds is still in negotiations to sell its 632 bank branches to the Co- op, having fallen behind schedule. The outline of a deal was due to be ready by the end of this month. The Co-op emerged as Lloyd’s preferred buyer for the branches in December. Lloyds is disposing of a large chunk of its bank branches to satisfy the conditions by the European competition regulator on the £20 billion in state aid it received at the onset of the credit crunch. After its purchase of Britannia in 2009 the Co-op operates 343 branches
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