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Jigsaw calls in advisers as it weighs up sale

By Huw Hughes

21 Jul 2020

Business

British premium fashion retailer Jigsaw has called in advisers to run a strategic review of the company, a process that could result in a sale.

The company has called in two firms to weigh up its options: KPMG will oversee rent negotiations with landlords, while Cavendish Corporate Finance will work on a potential sale process or the recruitment of a new external investor.

“We are confident that Cavendish and KPMG are the right partners to undertake this strategic review of our business,” a Jigsaw spokesperson said in a statement. “Jigsaw is a valued British heritage brand and the Board is determined to do all it can to steer the company and its staff through this incredibly challenging time.”

The Covid-19 pandemic has wreaked havoc on physical retailers in recent months. Just this week, reports emerged that British high street stalwarts Marks & Spencer, Ted Baker and Harvey Nichols will all cut jobs as they look to soften the financial blow of store closures during lockdown.

Other companies like Oasis and Warehouse, Cath Kidston, Laura Ashley and Debenhams have fallen into administration in recent months.

Photo credit: Jigsaw

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