The Gold family, which owns Ann Summers, is exploring options for the business that could include a partial or majority sale.
The family, which has owned the lingerie and sex toy retailer, is close to lining up corporate advisory firm, Interparth Advisory to work on a strategic review of the business, Sky News has reported.
The review could lead to the disposal of a partial or full stake in the chain, which the family has held for more than half a century.
Retail sources told Sky News that it was uncertain if the Gold family would sell a controlling stake in the business, but some dilution of interest was probable.
In a statement, Vanessa Gold, Ann Summers’ chair, said: “We, like many other retailers, are dealing with the unhelpful backdrop to business of the decisions announced by the government at the Budget and the rising cost to retail.
“As a family-owned business, we are in a fortunate position and have committed investment for over 50 years. This has created a robust and resilient business.
“We are exploring a number of options to further grow the brand into 2025 and beyond.”
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