London fashion retailer Hobbs is being put up for sale for £80m as 3i, the investment bank that purchased the brand in 2004, looks to offload the struggling brand. Investment bank NM Rothschild will be brought in to oversee the auction of the retailer.
Hobbs was founded in Hampstead in 1981 by husband and wife Yoram and Marilyn Anselm, and has become a favourite with the Duchess of Cambridge, however has struggled over the last few years, though it did make a small £1.4m profit in 2015.
Hobbs has 140 stores across the UK and Ireland, along with an online presence.
To read the full article visit Retail Gazette here
Tags: Hobbs, 3i