Seasalt exploring sale following strong summer
It is thought founders and largest shareholders, the Chadwick family, would remain as part of the business
Fashion brand Seasalt is reportedly considering a sale following a period of strong sales during the summer boosted by the UK’s staycation boom.
According to The Telegraph, the retailer is in early talks about bringing in new investors, with a potential deal leading to an exit for shareholders BGF and Santander.
It is thought its founders and largest shareholders, the Chadwick family, would remain as part of the business.
A Seasalt spokesman told the paper: “Seasalt is enjoying a strong year and has ambitious plans for the future. As part of those plans, we are in the very early stages of exploring a number of options to support further online and offline growth both in the UK and internationally. We have no further information to share at this time.”
In its most recent results, the retailer posted profits of £697,000, down from £2.4m during the 52-week period ending 28 February 2020. However, it saw its sales increase £75.3m up from £65.6m.
The brand, which has over 70 stores, also sells its range of products online in over 15 countries.
