The Gold family is contemplating changes to its ownership of Ann Summers amidst challenging economic conditions.
- Discussions with corporate advisory firm Interpath have been underway to facilitate strategic business decisions.
- The family maintains full ownership but is considering selling a significant portion of their stake.
- Ann Summers has faced recent financial difficulties, prompting additional family-funded support.
- The potential sale aligns with the family’s strategy to grow the brand beyond 2025.
The Gold family, longstanding stewards of the British retailer Ann Summers, are exploring possible changes in ownership. A partial or majority sale of the business is being considered as part of a strategic review with corporate advisory firm Interpath. This move comes amidst a backdrop of economic challenges impacting the retail sector.
Conversations between Ann Summers and Interpath have been ongoing for several weeks. While no formal appointment has been made, the intention to engage Interpath suggests a serious consideration of selling a significant portion of the business. Presently, the Gold family retains full control over Ann Summers, owning 100% of the company.
Vanessa Gold, chair of Ann Summers, acknowledged the economic pressures in a statement. She noted, ‘We, like many other retailers, are dealing with the unhelpful backdrop to business of the decisions announced by the government at the Budget and the rising cost to retail.’ Despite these challenges, she emphasised the family’s fortunate position and long-term commitment, which has established a stable business foundation.
Amidst financial strains, reports indicate that the Gold family recently provided multi-million-pound financial support to Ann Summers through a loan. This intervention highlights the financial strains the retailer has been facing, as the business continues to accumulate losses.
The exploration of sale options signifies a strategic direction aimed at growing the Ann Summers brand into the future. It reflects both a proactive approach to managing financial health and a vision for the brand’s expansion beyond 2025.
The strategic review undertaken by the Gold family could mark a new chapter for Ann Summers, focusing on sustainability and growth.
