The Gold family, long-time owners of Ann Summers, is exploring options for the lingerie and sex toy retailer, including the potential sale of a partial or majority stake.
Sources told Sky News that the family is on the verge of hiring corporate advisory firm Interpath to conduct a strategic review, which could pave the way for selling a significant portion of the business.
While discussions between Ann Summers and Interpath have been ongoing for weeks, the formal appointment has yet to be made.
Founded in 1971, Ann Summers was bought by David and Ralph Gold after the business went into liquidation the following year. The family continues to own 100% of the equity in the company.
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Sources indicated that a reduction in the Gold family’s stake was likely, though it remains uncertain whether they will sell a controlling share.
In a statement issued in response to an enquiry from Sky News, Ann Summers chair Vanessa Gold said: “We, like many other retailers, are dealing with the unhelpful backdrop to business of the decisions announced by the government at the Budget and the rising cost to retail.”
“As a family-owned business, we are in a fortunate position and have committed investment for over 50 years.
“This has created a robust and resilient business. We are exploring a number of options to further grow the brand into 2025 and beyond.”
Last week reports emerged that the Gold family had stepped in to provide several million pounds of additional funding to the retailer in the form of a loan as it continued to rack up losses.
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