Harvey Nichols boss in running to buy Aurum

Dickson Poon rumoured to have lodged an interest in the jeweller.

Harvey Nichols tycoon Dickson Poon is reported to be in the running to make a bid for jewellery retail group Aurum, according to a report from Sky News.

Poon is said to be one of a number of parties who have lodged an interest to buy the business, including some private equity firms.

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Sky News’ sources have claimed that Poon’s interest is at an early stage but added that the links between Harvey Nichols’ luxury offer and that of Aurum’s higher-end retail propositions Watches of Switzerland, Goldsmiths and Mappin & Webb would mean that the two businesses would complement each other.

Aurum put itself on the market at the beginning of April after a bumper’s year trading that fetched £326 million in the year to Jaunuary 30, up 16.6 percent on like-for-like sales from the year before, with core earnings of £16.1 million.

The jewellery and watch retail business is expected to fetch about £200 million.

Shortly after the announcement of the sale, Aurum’s broker Cavendish Corporate Finance said that it believed the company would end up in the hands of private equity by summer with little change made to the day-to-day running of the business by the sale.

Aurum and Cavendish Corporate Finance were unavailable for comment.



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