Tillman has appointed investment bank UBS as an advisor, sparking speculation that he will sell his 72 per cent stake in Jaeger. However, Tillman said: “At some time, it [a sale] might be right, for the right approach. But at the moment, we are not up for sale and I would like to clarify that point.”
Tillman said that any sale would depend on what he believed to be best for the business. “We are unlike many other businesses bought and sold by private equity in the past few years and we have no fixed debt,” he said.
The tycoon confirmed he has received approaches for the business, which last week reported sales up 16 per cent to£82.2 million in the year to February 23.
Tillman bought the once beleaguered retailer in 2003 and, along with chief executive Belinda Earl, has transformed its fortunes.
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