Fat Face moves closer to stock market debut
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Clothes shop Fat Face is ratcheting up its plans to seek a listing on the London Stock Exchange, and has brought in a slew of bankers to advise on a possible flotation.
Bridgepoint, the private equity group that owns Fat Face, hired financial advisory group Lazard in December to assess options. And after strong Christmas sales for the store, it’s brought in Citi and Jefferies to work on a flotation.
Sky News first reported the listing, which marks the store as the latest in a string of equity-backed retailers who are toying with flotations this year – it’s preceded by House of Fraser, Poundland and Pets at Home.
Helmed by chief executive Anthony Thompson, former executive of both Asda and M&S, Fat Face’s fortunes have been turned around. It's slashed the heavy discounting previously employed, setting it apart from stores that floundered after discounted very early in the Christmas run-up.