Arcadia MBO Is Near Completion

A management buy-out of four of UK clothing giant Arcadia's brands looks set to be near completion, according to sources. Arcadia is selling Warehouse, Principles, Racing Green and Hawkshead because they no longer sit well alongside the store giants core chains. The buy-out is being led by multi-channel managing director, Peter Davies and speciality managing director, Hilary Riva. The duo are reported to be backed by venture capitalist Bridgepoint Capital. An Arcadia spokesman refused to comment on the timescale but told just-style: "Negotiations with the management team continue and we will make an announcement in due course."

(Source: just-style.com)