Oasis, Coast and Warehouse are in sights of turnaround firm Alteri

By

Sandra Halliday

Published
Dec 5, 2016

Kaupthing’s up-for-sale UK chains Warehouse, Coast and Oasis are being eyed up by private equity groups rather than by rival retailers, reports suggested at the weekend.

Turnaround specialist Alteri is believed to have shown an interest in the trio, although it has not commented on newspaper reports that it has made an approach.

Administrators of the failed Icelandic bank Kaupthing, which acquired the chains in 2009 in the wake of the financial crisis, recently appointed PwC to conduct a strategic review with speculation that the brands could be sold for around £100m.

And the trio of chains is likely to be sold as a group because the head office ops are inextricably linked, analysts said. However, the Karen Millen operation that it also owns is being retained for now although there have been reports that it could be put up for sale separately, perhaps as soon as next year.

Analysts said that Kaupthing may struggle to get a good price for the chains given the uncertainty surrounding Brexit and the weak outlook for the UK fashion retail sector.