Fashion chain hopes deal to save firm is coming soon
by Iain Laing, The Journal, April 23rd 2011
FASHION chain All Saints has said it expects to complete a deal within the next few days that will secure its long-term future.
A consortium led by American firm Goode Partners is in talks to buy a majority stake currently owned by two failed Icelandic banks.
If the deal comes off, the partnership is expected to ease some of the financial pressure on the business by paying off part of its £53m debt pile.
But, if no deal is reached, it has been reported that its main lender, taxpayer-backed Lloyds Banking Group, could force the business into administration.
All Saints employs about 2,000 staff and has 63 stores and 47 concessions in the UK, Europe, US and Russia.
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http://www.nebusiness.co.uk/busines...l-to-save-firm-is-coming-soon-51140-28569414/