Seasalt halts sale process

Seasalt was wanting into options and bringing in investors following enduring a growth last summer months.

The retailer came shut to putting a deal with Following, but has now stopped the sale process, amid uncertain market place problems.

The the founding relatives considered providing a vast majority stake, and investment decision business Davidson Kempner was intrigued. The brand name was founded by Don Chadwick in 1981.

Seasalt commented: “In excess of modern months, Seasalt has been checking out the selection of supplemental external investment to develop the business at scale and tempo.  Adhering to a period of time of conferences with potential traders, we have built a aware determination to move back again from the process and we will not progress with a sale of the business at this level in time.

“Seasalt has witnessed solid buying and selling in even the most challenging pandemic conditions and has continued to experience positive general performance considering that, both equally in our outlets and on the web, in addition to profitable launches with retail partners this kind of as M&S.  The existing unsure condition of the market and the several unprecedented exterior things impacting the financial system certainly do not make this an great time for an financial investment that reflects the power and high quality of our business. Consequently, we will refocus our efforts on driving the business forward and progressing our strategies to grow and build on our steady and productive upward trajectory to date less than our present leadership and ownership construction.

“We think this is the preferable route to obtaining our bold business objectives in the current local weather. We are approaching the coming months and yrs with self confidence and electricity.”