British retailer White Stuff is believed to be mulling a potential sale of the firm after it received an unsolicited takeover approach from a third party.
The founders of the company, George Treves and Sean Thomas, are said to have appointed investment bank Rothschild to advise on the process moving forward, according to a source for Sky News, which initially published the news.
The media outlet noted that there had not yet been a commitment to the sale of the chain, and that any decision regarding the move would be dependent on the valuation. One analyst for Sky suggested this could amount to around 50 million pounds.
In the past, White Stuff had experienced a turbulent period, having previously called in advisors to assess its retail network in mid-2021 after cutting 390 jobs in 2020 as part of a restructuring plan.
The retailer continued to go forward with a company-wide transformation over the past year also, launching a new website and revamping its retail estate, which now consists of over 100 stores.
Evidence of such efforts already paying off could be seen in the company’s financial update for the 52 weeks to April 29, when it reported that sales had risen 13.3 percent year-on-year.
