- Prachi Singh |
After Bonmarche, Philip Day has said to have made a takeover offer to acquire struggling fashion retailer Jack Wills, reports Retail Gazette.
After the company’s private equity owner BlueGem began looking for a buyer at the beginning of this month, Mike Ashley’s Sports Direct, Crew Clothing and Ben Sherman parent company Marquee Brands as well as Hilco and Alteri have expressed interest in taking over the company. Day, the owner of Edinburgh Woollen Mill Group is latest entrant to join the list.
According to the accounts filed with the Companies House UK, Jack Wills reported pre-tax loss of 29.3 million pounds and EBITDA loss of 7.5 million pounds for the year to January 31, 2018, while sales were down 1.1 percent to 129.3 million pounds.
After revealing the challenging year, Jack Wills spokesperson had said in a statement: “It is true that 2017/18 was a challenging year for Jack Wills but the business has moved on significantly since then. Jack Wills recently completed a significant refinancing, with continued support from our major shareholder, BlueGem.”