The Gold family is reviewing strategic options for Ann Summers.
- There’s potential for selling a partial or majority stake in the company.
- Corporate advisory firm Interpath might be appointed to assist in this process.
- Ann Summers’ history and current ownership by the Gold family for over 50 years.
- Ann Summers’ response to economic challenges posed by government decisions and operational costs.
The Gold family, long-time proprietors of Ann Summers, are contemplating strategic alternatives for the renowned retailer. This could involve selling either a partial or a majority stake in the business, as insider sources revealed to Sky News.
Currently, there are considerations to engage Interpath, a corporate advisory firm, to conduct a comprehensive review of possibilities. This marks a significant step towards a potential sale, although a formal arrangement has yet to be established.
Ann Summers, established in 1971, was acquired by David and Ralph Gold after the business encountered financial difficulties. The family has maintained full ownership since then, highlighting their longstanding investment.
In light of recent reports, it is noted that a reduction in ownership by the Gold family is probable, although it is uncertain if they will relinquish a controlling interest. Ann Summers’ chair, Vanessa Gold remarked on the industry’s challenges, saying, “We are navigating through business strains caused by governmental budget decisions and increasing retail costs.”
Despite these hurdles, the company remains robust, thanks to the family’s half-century-long commitment and investment. The Gold family recently injected several million pounds to support the retailer amidst financial losses, demonstrating their continued dedication.
The potential sale of Ann Summers reflects the Gold family’s proactive approach to navigating current retail challenges.
