Aspinal of London in sale talks

United Kingdom
Published:  23 January, 2020
Credit: Aspinal of London

The British leather bags and accessories brand is said to have hired international audit and advisory firm KPMG to assess funding options amid talks of a possible sale.

Aspinal of London is reported to be working on a financing plan which could lead to a possible sale. According to Sky News, the company is understood to be in discussions with a number of prospective buyers. KPMG could now explore alternative funding sources if a takeover does not materialise at a sufficiently attractive valuation.

The privately-owned company is reported to have lost nearly £6 million (US$7.85 million) in the year to March 2019, almost twice as much as the losses recorded in the corresponding period of the previous year, despite sales rising 11% to £35 million (US$45.79 million). Read more here.

Source: Sky News