The Sunday Times has reported that Figleaves is expected to be valued at £40m and has hired corporate finance firm GP Bullhound for financial advice. Although no information has been released as to where the bid approaches have come from, it’s thought that interest has been shown by lingerie retailers and private equity firms.

The majority shareholder in Figleaves with 40 per cent shares is Balderton Capital. Founder Danial Nabarro and chief executive Julia Reynolds and her team also have stakes.

Set up in 1998, Reynolds is credited with transforming the fortunes of Figleaves and the company is expected to turn a profit for the first time in its history this year. This is following innovative business-driving ideas by the online retailer, including the introduction of its own label lingerie and clothing.

See also:
La Senza Rescued by Lion Capital
Marc Bolland Marks and Spencer Bonus Scandal
Stirling Group in Administration
Consumer Confidence on the Increase
Tories' VAT Increase to 20 Per Cent
Debenhams Cuts 170 Jobs in Ireland

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