Giving up the Ghost

British fashion house Ghost has been sold to retail entrepreneur Kevin Stanford and a group of Icelandic investors for an estimated £5 million. The label's designer, Tanya Sarne will continue to control the designs and will still hold a 32 percent stake in the company, but will however give up the business aspect. She said that she would leave this to someone who can "take Ghost to the next stage".

"I am 60 years old and do want to play with my grandchildren," Sarne told The Times.