- Prachi Singh |
A statement released by Macintosh has confirmed that it has received second round offers to purchase its Fashion UK activities including Brantano and Jones Bootmaker. However, the company maintains that since these offers are at the low end of the originally expected range, it is currently in the process of evaluating these offers and there can be no assurance that any of these will result in a transaction.
Based on these second round offers Macintosh expects a (non-cash) book loss between 40 euros (45.7 dollars) to 50 million euros (57.2 million dollars). The company added that sale of Fashion UK is part of Macintosh's ‘Rebalancing for profitable growth’ strategy to focus on its core Benelux operations.
Fashion UK reported sales of 112.9 million euros (129.2 million dollars) in the first six months of 2015, with an underlying EBITDA of 3.9 million euros (4.4 million dollars) negative against 1.1 million euros (1.2 million dollars) negative in the first half of 2014.