Sun European Partners (SEP) senior associate Matthias Gundlach told Retail Week that it is examining ScS’s cost base, including IT, property and logistics, to return the retailer to profitability.
“If the mistakes that were made are patched up, which they are being, then we can get it back to profitability,” he said.
Gundlach said there are no plans to close stores and that the existing management, led by chief executive David Knight, will stay. “They’re doing a decent job,” he said. However, he couldn’t guarantee that there would not be job losses.
SEP plans to launch a transactional web site and will look at how developing shop-in-shops where it has either an ScS or Homeform store.
The European Competition Commission is reviewing the deal and a decision is expected today.
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