BusinessBusiness RecoveryStrong interest in Baugur-backed Principles

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
timesonline.co.uk

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.

Further Reading:

PwC
moves to secure Icelandic holdings

House
of Fraser, Iceland and Hamleys’ holding company placed into administration- PwC
called in

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