Clothing brand Jigsaw denies sale speculation
British fashion label Jigsaw has denied that it is exploring a sale of the business following reports this weeks that it has held talks with financial advisers.
The fashion chain was founded in 1971 by John Robinson, who ran the business with his former wife Bella before handing over the reins to former John Lewis director Peter Ruis in 2013.
Ruis said: "Jigsaw has not started any formal process around a possible future sale and there has been no appointment of an adviser. We have stated, on the record, that at some point we may seek a sale, but that moment is not now."
His comments come after reports in the Sunday Times that the owners have held talks wth financial advisers and are considering selling a stake in the business.
Jigsaw performed well last year as turnover increased by 18.5 per cent to £89.5m and adjusted earnings rose by 187 per cent to £5.4m, accounts filed by parent company Robinson Webster show.
The chain has over 70 standalone stores including a flagship on the King’s Road in Chelsea, and 36 concessions, mainly in John Lewis.