Strong interest in Baugur-backed Principles
Debenhams and Arcadia tipped to be in race to win flagging high-street brand
Debenhams and Arcadia are believed to be the front-runners in buying-out
Icelandic-backed fashion house Principles.
Mosaic – which owns a 49% stake in Baugur, confirmed several potential
backers have expressed interest in the Principles brand, according to
Mosaic said: ‘Mosaic Fashions has received several approaches to sell the
Principles business and is considering these within the scope of the
restructuring discussions. There is no intention to split up the group further.’
Debenhams’ interest is thought to stem from its desire to attract a greater
margin on its in-store Principles concessions.