Jack Wills’ private equity backer Inflexion is reportedly looking for a buyer for its 27% stake in the British fashion retailer.
The private equity firm, which is one of the retailer’s biggest backers, is in discussions with city buyout firms over selling its 27% stake in the chain, according to the Sunday Times.
Inflexion has been a minority shareholder in Jack Wills since 2007.
Jack Wills, which last year scrapped plans for a float, has been loss-making as a group for the past three years and reported a widening of operating losses to £8.78m in its last annual results.
Co-founder and majority stakeholder Peter Williams was drafted back in as chief executive of the retailer last August following the exit of Wendy Becker.
Jack Wills received an increased loan from its principal lender HSBC in March to fuel up to 10 new store openings in the UK and Asia.