• Home
  • News
  • Fashion
  • New Look founder may take fashion chain private

New Look founder may take fashion chain private

By FashionUnited

loading...

Scroll down to read more

TOM SINGH, the biggest shareholder in the New Look fashion chain, is expected to confirm this week that he is considering making an offer for the firm he founded more than 30 years ago.

Last month, New Look announced that Singh had appointed an adviser, believed to be Deutsche Bank, to review the options for his 28% shareholding in the business. On Friday, New Look's shares rose from 288p to a record high of 315p on fresh speculation of an imminent bid. The company is now valued at £633m.

There has been speculation that the executive directors of New Look, led by chief executive Stephen Sunnucks, would like to stage a management buyout of the business and a number of private-equity houses are said to be looking at the company. However, industry sources said Sunnucks had not decided whether to go for a buyout. He is believed to be on holiday with his family this weekend.

Singh founded New Look 34 years ago with a single shop in Taunton, Somerset. Today the chain has almost 500 stores in Britain and more than 130 in France.

New Look