Triumph eyes La Senza stores

According to The Times, Triumph is in discussions with KPMG about acquiring some of the La Senza stores. Triumph has only a handful of stand alone stores in the UK, and operates predominantly through concessions. Property agent Kitchen La Frenais Morgan acts for Triumph.

It is thought Triumph is not interested in the La Senza brand, which is being eyed by Victoria’s Secrets owner Limited Brands.

Limited Brands is set to open its first Victoria’s Secret store in London this year.

KPMG is poised to act as La Senza’s administrator next week.

Of La Senza’s 153 UK stores, 81 are to be closed, while stores in Bosnia and Greece are safe, the Daily Mail said.

Limited has pre-emptive rights over the La Senza brand name in the event that it enters administration. This clause is thought to have been an obstacle for La Senza’s private equity owner Lion Capital, which had initially intended to relaunch the company as Understudy, it is understood.

These plans stalled because of La Senza’s poor trading performance, The Times reported.

The La Senza  chain, which was previously owned by Dragon’s Den entrepreneur Theo Paphitis before it was sold to private equity owners Lion Capital in 2006, filed a notice of its intention to appoint an administrator before Christmas.

It is among several retailers that have suffered over the Christmas period, including Hawkins Bazaar, Past Times and Barratts.