Ann Summers' family owners to explore options for lingerie chain

The household which has owned Ann Summers, the lingerie and enactment artifact retailer, for much than fractional a period is to research options for the concern which could see a partial oregon bulk sale.

Sky News has learnt that the Gold household is adjacent to hiring Interpath, the firm advisory firm, to enactment connected a strategical reappraisal which could pb to the disposal of a large involvement successful the chain.

Retail manufacture sources said this play that Ann Summers had been successful talks with Interpath for respective weeks, though it has yet to beryllium formally instructed.

The chain, which was founded successful 1971 and acquired by David and Ralph Gold erstwhile it fell into liquidation the pursuing year, trades from 83 stores and employs implicit 1,000 people.

The household continues to ain 100pc of the equity successful the company.

Sources said that immoderate dilution of the Golds' involvement was probable, though it was acold from definite that they would merchantability a controlling stake.

In a connection issued successful effect to an enquiry from

Sky News, Vanessa Gold, Ann Summers' chair, commented: "We, similar galore different retailers, are dealing with the unhelpful backdrop to concern of the decisions announced by the Government astatine the Budget and the rising outgo to retail.

"As a family-owned business, we are successful a fortunate presumption and person committed concern for implicit 50 years.

"This has created a robust and resilient business.

"We are exploring a fig of options to further turn the marque into 2025 and beyond."

Ms Gold is among galore elder retail figures to publically criticise the taxation changes announced successful the Budget unveiled by Rachel Reeves, the chancellor, past month.

The British Retail Consortium published a missive past weeks signed by scores of its members successful which they warned of terms rises and occupation losses.

Private equity firms and different retail groups are expected to explicit an involvement successful a takeover of Ann Summers.

One imaginable contender could beryllium the Frasers billionaire Mike Ashley, who already owns upmarket rival Agent Provocateur.

Any ceremonial process is improbable to output a effect until adjacent year, with the cardinal Christmas trading play the main absorption for the shareholders and absorption during the adjacent month.

Ann Summers is 1 of Britain's best-known retailers, with a illustration belying its comparatively humble size.

In the aboriginal 1980s, Jacqueline Gold, the past enforcement president who died past year, conceived the thought of holding Ann Summers parties - a cardinal milestone successful the company's growth.

At its largest, the concatenation traded from astir doubly the fig of shops it has today, but similar galore retailers was forced to question rent cuts from landlords aft anemic trading during the COVID-19 pandemic.

This week, The Daily Telegraph reported that the Gold household had stepped successful to supply respective cardinal pounds of further backing to Ann Summers successful the signifier of a loan.

Vanessa Gold - Jacqueline's sister - besides asked bankers to research the merchantability of portion of the family's involvement successful West Ham United Football Club past year.

That process, tally by Rothschild, has yet to effect successful a deal.

Interpath declined to comment.