Ben Sherman owner eyes Jack Wills acquisition

There are up to six potential buyers of Jack Wills, whose lenders stand to lose £30m if no buyer is found, The Telegraph reported.

Marquee Brands is understood to be working on a possible deal with turnaround investor Gordon Brothers.

Other parties interested in Jack Wills are thought to include Sports Direct tycoon Mike Ashley, Edinburgh Woollen Mill owner Philip Day and turnaround specialists Alteri and Hilco.

It emerged earlier this month that Jack Wills had drafted in advisers to consider all options for its future, including a sale, as trading went into a tailspin in tough conditions.

The retailer, owned by private equity house BlueGem, brought KPMG on board to advise.

In its most recently reported year to January 28, 2018, Jack Wills suffered a pre-tax loss of £14m, excluding one-off costs, compared with a profit of £2.2m the previous year.

Separately, the Mail on Sunday reported yesterday that Jack Wills has had its St Albans store properties seized by the landlord over non-payment of rent.

The shop was shut on Friday. A notice said the “lease had been forfeited and the premises have been secured” and that the landlord “intends to immediately re-let the premises”.

A Jack Wills spokeswoman said there had been an “unfortunate misunderstanding”, that it was intended to resolve matters quickly and resume trading again today.