Macintosh confirms second round offers for UK brands
Macintosh, the European retail group that has European stores for brands including Dolcis and Steve Madden, has confirmed that it has received second round offers to buy its Fashion UK activities, Brantano and Jones Bootmaker.
However, Macintosh said the offers are at the low end at the originally expected range and that there can be no assurance that they will result in a transaction.
Based on those offers, Macintosh expects a (non-cash) book loss of around 40-50m euros. Macintosh is selling Fashion UK as part of its "Rebalancing for profitable growth" strategy, which will see it focus on its core Benelux operations.
In H1 2015, Fashion UK reported sales of 112.9m euros with an underlying EBITDA of 3.9m euros negative.
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