End Clothing taken over by Apollo as part of recapitalisation plans

End Clothing has switched hands as part of an agreement by the retailer’s lenders and shareholders to recapitalise the business. It has been reported that private equity firm Apollo has taken over the company as End Clothing looks to reduce its debt.

This is according to Drapers, to which End Clothing’s chief executive officer, Parker Gunderson, confirmed the news, noting in a statement that Apollo’s takeover would further enable the business to “strengthen [its] balance sheet and forward cash flow as we look to reach our next stage of evolution as a brand”.

Gunderson stated that the transaction would allow End to “reinvest in the team” and further execute business plans. He continued: “Our focus remains on curating the right products, deepening our connections in the community and enhancing operations, to remain a leading fashion destination.”

As part of the agreement, majority stakeholder The Carlyle Group and End Clothing’s co-founders Christiaan Ashworth and John Douglas Parker have fully exited the business. This comes three years after The Carlyle Group first acquired a stake in the company, in a deal that valued the business at 750 million pounds at the time.

End Clothing, which was founded in Newcastle, England, in 2005, largely operated as a menswear independent retailer before expanding into womenswear in 2021. The company is currently finalising plans for its 20th anniversary year, beginning 2025, during which a “strong lineup of marketing activations” will take place, Gunderson told Drapers.

The CEO added that in the current autumn/winter 2024 trading period, End was seeing “positive signs” amid “healthy” inventory levels.