This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-41776430
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Jigsaw fashion chain seeks buyer | Jigsaw fashion chain seeks buyer |
| (35 minutes later) | |
| The High Street fashion chain Jigsaw is looking for a buyer. | The High Street fashion chain Jigsaw is looking for a buyer. |
| Controlling shareholder John Robinson, who founded the firm in 1970, has appointed KPMG to help with approaches by potential buyers or investors. | Controlling shareholder John Robinson, who founded the firm in 1970, has appointed KPMG to help with approaches by potential buyers or investors. |
| A Jigsaw spokesperson confirmed: "There have been a number of approaches directly to Jigsaw, around the purchase of a minority or majority stake. " | A Jigsaw spokesperson confirmed: "There have been a number of approaches directly to Jigsaw, around the purchase of a minority or majority stake. " |
| "No sale process has been activated but we continue to have conversations with interested parties," she said. | "No sale process has been activated but we continue to have conversations with interested parties," she said. |
| Jigsaw has more than 80 stand alone stores, as well as concessions in department stores such as John Lewis and Harvey Nichols. | Jigsaw has more than 80 stand alone stores, as well as concessions in department stores such as John Lewis and Harvey Nichols. |
| It has a small international presence as well, in Bloomingdales in the US as well as outlets in Australia and the Netherlands. | It has a small international presence as well, in Bloomingdales in the US as well as outlets in Australia and the Netherlands. |
| The company's most recent accounts for 2016 show Jigsaw had a turnover of £95m and profits of £6.2m. | The company's most recent accounts for 2016 show Jigsaw had a turnover of £95m and profits of £6.2m. |
| Squeezed consumer | |
| The news comes against a background of weakening retail sales and rising inflation, which is squeezing consumer spending power. | |
| This week, figures from the business lobby group the CBI showed the sharpest fall in September retail sales since the crisis in 2009. | |
| Last week, official figures showed third-quarter retail growth slowed to a year-on-year rate of 1.5%, its lowest since the second quarter of 2013. | |
| The figures come at the Bank of England contemplates its first interest rate rise in a decade. |