The owners of fashion retailer Jigsaw have handed out shares to management for the first time, ahead of a potential sale.

Companies House reports reveal that directors and key managers at the retailer were awarded a 9% share in the business by owners John and Belle Robinson.

The Mail on Sunday reported that the share award scheme was part of a plan to boost growth and prepare the business for a sale.

Chief executive Peter Ruis was quoted as saying: “‘Probably after two or three years we would need the right investment to go to the next level. There are various options.”

Jigsaw reported a record Christmas performance, posting a 10% increase in like-for-like sales over the five weeks ended January 3. Total sales increased 13% over the period, while margin grew by 140 basis points.