Coast owner accelerates plans to sell business
The parent company of the Coast, Warehouse and Oasis fashion chains has contacted potential buyers about a possible sale of Coast according to reports.
Sky News has reported that Aurora Fashions is accelerating plans to sell the business after being impacted by the collapse of the House of Fraser department store chain where Coast operates a significant number of concessions.
Coast is understood to be facing a multi-million pound bill following Sports Direct’s acquisition of House of Fraser in a pre-pack deal last month.
Pricewaterhouse Coopers are assisting Aurora with the sales process.
A Coast spokesperson told Sky News: “We have been working with PwC on a potential sale on an ongoing basis for the past 18 months, so this is nothing new but merely a continuation of the process.”
Aurora Fashions owner Kaupthing was looking at selling the entire Aurora business last year to Emerisque Brands but the deal did not go through.
