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High street tycoon bids for Links of London

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High street tycoon, Mike Ashley, is reportedly among the final bidders for Links of London.

According to Sky News, Ashley is looking to continue his unprecedented acquisition spree by tabling a bid to buy the British jewellery brand.

The bid comes from Sports Direct International, in which Ashley is the majority shareholder, and is one of two final bidders attempting to buy Links of London from its current owner, Folli Follie.

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Sources told Sky News that Ashley was interested in acquiring the British brand as part of his attempt to transform House of Fraser, which he saved from administration last year, into the “Harrods of the high street”.

Homebase-owner Hilco Capital is also rumoured to be in the running for rescuing Links of London.

Hilco Capital specialises in buying distressed companies.

While Links of London is yet to comment on the news of a sale, sources close to the brand did confirm to Professional Jeweller that accountancy firm, Deloitte, is looking at sales options, with the FF Group later confirming the news in a press release.

In a statement the FF Group said:  “The company can confirm that it has appointed Deloitte and Savigny Partners to investigate the option of a full sale of the business, but that is the extent of their mandate at this point. Links of London remains in the process of a turnaround plan that the company continues to support.”

FF Group in search of buyer for Links of London

Tags : ff groupFolli FollieHouse of FraserLinks of LondonMike Ashley
Stacey Hailes

The author Stacey Hailes

Editor, Professional Jeweller

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