The owner of Links of London has confirmed that it has drafted in advisers to weigh up a sale of the troubled jewellery group.
Folli Follie, the Greek owner of the retail chain, said today that it has told Deloitte and Savigny Partners to look into the option of finding a buyer for Links, which “remains in the process of a turnaround plan that the company continues to support”.
Last week Sky News reported that the embattled group’s owner is on the hunt for a rescue offer by this week, with sources telling the broadcaster it was “almost inevitable” a sale would take place in a pre-pack administration or that a post-transaction restructuring would be required.
In recent months Links has been tipped as one of a string of retailers mulling a company voluntary arrangement (CVA), a controversial insolvency process used to slash rents and close unprofitable stores.
The upmarket brand has pulled out of the US market, shutting its 15 stores across the pond as part of a turnaround effort to stave off insolvency.