Ideal Shopping Direct has confirmed that it is to undertake a review of its options, which could include a sale of the company.
The move follows the revelation in the Sunday Times that the two founders were thought to be poised to put the business up for sale in a move which could net them £20m. The report said it is expected to appoint Rothschild before the end of the month.
In a statement today, Ideal Shopping Direct said: “The board of Ideal Shopping Direct notes the recent press speculation regarding a potential sale of the Company. The board confirms that it intends to undertake a review of its strategic options, which could include a sale of the company.”
Paul Wright and Val Kaye set up a mail-order business in 1980 and expanded later into television to compete with QVC. They were ousted in 2007 but returned in early 2009.
Ideal operates the Ideal World and Create and Craft television channels.