The owners of Peacocks Group are considering appointing advisers to examine the value retailers’ options as it mulls a possible sale, it is understood.
Shareholders including US hedge fund Och-Ziff, Perry Capital and Goldman Sachs’ private equity division, are poised to appoint an investment bank in the coming weeks, according to the Sunday Times.
peacocks“>Peacocks, which comprises the eponymous value chain and the mature womenswear chain Bonmarche, was taken private for about £400m in December 2005 by a consortium led by Och-Ziff and Perry Capital.
The group attempted an £800m sale or refinancing of the business in 2007 but the plans were shelved in the wake of the credit crunch. At the time potential bidders were understood to have included Bahrain investment fund Arcapita and private equity houses PAI and Cinven.
Instead, shareholders invested to fund expansion, with a £20m cash injection at the end of 2008 from Och-Ziff and Perry Capital.
Peacocks has 524 stores and will open 40 stores in 2010 to 2011, compared with 30 in the previous financial year. It has 70 overseas franchises.
A Peacocks spokesman said: “Peacocks is an excellent business trading strongly. Shareholders keep all options under review on how best to build on this success, but no decisions have been taken.”