Next and Frasers said to be in running for Seraphine rescue deal

Following Seraphine’s descent into administration last week, speculation over potential saviours are beginning to swirl. Among them, British retail giants Next and Frasers Group are said to be frontrunners in potential deals to rescue the maternity wear brand.

According to sources for Drapers, dubbed “several industry veterans”, the two firms are being tipped as the top contenders to buy Seraphine out of administration. A purchase is likely to be in the “low single-digit millions”.

A former fashion retail CEO told the media outlet that Next was likely to “get a good deal on Seraphine”, but that its interest most likely lies in the brand’s intellectual property instead of the entire business.

For Frasers, Seraphine’s price point could allow it to “fit right in” within its portfolio, a supermarket fashion executive told Drapers. They added: “It’s going to be a hard buy. It’s a niche sector and birth rates are falling, but there will always be demand for maternitywear.”

Another source told the platform that US-based private equity firms were also believed to be eyeing the business.

Seraphine entered administration on July 8, appointing advisors at Interpath to oversee the process. At the time, the brand said “trading challenges” had been “exacerbated by fragile consumer confidence which had negatively impacted sales”.

In May, following a rebrand, the company had attempted to secure extra investment to support its next phase of growth, yet “pressure on cashflow continuing to mount” meant that it was forced to accelerate its review of options.

FashionUnited has contacted Next and Frasers Group with requests to comment. Interpath declined to comment.