Former La Senza owner to buy back stake

Dragons' Den star Theo Paphitis is in talks to buy back a majority stake in La Senza, the lingerie chain that he sold to private-equity group Lion Capital three years ago for £100m.

Any deal to buy the chain is expected to form part of a radical restructuring of the business with its lenders. It is unclear whether Lion would sell out entirely or retain a minority stake. In these tough market conditions, it is likely that any transaction would value La Senza at substantially less than Paphitis sold it for in 2006.

La Senza's primary objective is to provide an affordable lingerie product, which is comfortable, romantic and sensual. Its retail stores offer women of all ages exquisite lingerie in a beautiful and intimate setting, providing customers with the unique 'La Senza shopping experience'.