Fashion brand Scotch & Soda exploring sale - report
Amsterdam-based fashion brand Scotch & Soda, which has stores in locations including London's Covent Garden, is reportedly exploring a sale after more than a decade in private equity ownership.
According to Sky News, the company - which is owned by private equity investor Sun European Partners - has drafted in advisers to oversee an auction following talks about a refinancing of the business.
Scotch & Soda is sold through fewer than a handful of standalone UK shops as well as in department stores.
Retail industry sources told Sky that professional services firm Teneo had been hired to run the sale process.
It was understood that Rothschild had been advising Scotch & Soda on its refinancing plans, while EY has been engaged to work with the company's lenders.
Sun has been an investor in the fashion label since 2011, when it jointly acquired the business with Kellwood, one of Sun's portfolio companies at the time.
Insiders told Sky that Sun was expected to sell the entirety of its controlling stake in Scotch & Soda as part of the process.
The brand's valuation was unclear on Tuesday although it is thought to be on track to make more than €20m in earnings before interest, tax, depreciation and amortisation this year, Sky said.
Scotch & Soda was understood to be planning to expand both its store portfolio and wholesale operations.