Lingerie brand Agent Provocateur could be facing a pre-pack administration that would allow it to be bought without being saddled with some of its liabilities, and a deal could be imminent, according to reports.
Former La Senza owner Lion is understood to be among a group of potential buyers for underperforming lingerie chain Agent Provocateur. Other interested buyers include also specialist turnaround investor Endless and Etam.
The Ohio-based retailer will likely declare bankruptcy and possibly a liquidation as early as this week or next. Analysts cite the chain's dependency on shopping mall traffic as the reason for its downfall.
Lingerie manufacturer Wacoal is reading its entry into India, as it invests 200 million Indian rupees (around $2.9 million at current currency exchange rates) to open 75 stores over the next five years.