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