Ann Summers receives £5m cash injection from owners
It is understood that the loan was provided by Green Street Holdings, a Gold family-controlled entity, earlier this year in August
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Ann Summers had reportedly received a cash injection from its owners, the Gold family, with the aim of mitigating its widening losses, according to The Telegraph.
Chairman Vanessa Gold, who took over the role after the death of sister Jacqueline Gold, reportedly initiated a £5m cash call to help the firm earlier this year.
It is understood that the loan was provided by Green Street Holdings, a Gold family-controlled entity.
According to filings on Companies House, losses at Ann Summers hit £3.9m in the year to July 2023 despite turnover inching up from £101m to £104m in the period.
Gold told Retail Sector: “As a business, we are in a fortunate position being family owned and we remain unquestionably committed to preserving the heritage of Ann Summers and the longevity of the brand.
“All retailers are under significant pressure with continuing high taxation and rising costs for businesses.”
She added: “We are focused on growth and are always looking at options to bolster the brand in both the UK and internationally.”
