Ann Summers owners reportedly mulling sale options

The owners of lingerie chain Ann Summers are believed to be considering sale options for the business, with the disposal of a “big stake” in the retailer said to be on the table.

The Gold family, which owns 100 percent of the equity in the company, has reportedly been in discussions with Interpath for several weeks, according to sources for Sky News.

While yet to be formally instructed, the media outlet said the family was “close” to hiring the advisory firm as they continue to work on a strategic review.

One option being explored is a dilution of the Golds’ interest in Ann Summers, yet it is currently unclear whether they would sell a controlling stake, Sky News stated.

In a statement to the platform, Vanessa Gold, Ann Summers’ chair, 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."

The report comes on the heels of a number of redundancies carried out across Ann Summers which came to light last week alongside the news that the Golds’ had pumped five million pounds into the business.

Ann Summers continued to remain in the red for the year to July 1, 2023, posting a pre-tax loss of 3.8 million pounds. This, however, was down from a 21.9 million pound loss in the year prior, and came despite turnover edging up from 101 million pounds to 104 million pounds.