Online Gifts Retailer Sees Boom During COVID-19
- Notonthehighstreet considering a £200m sale
- Revenues surged during the pandemic
- Working with investment bank Evercore on potential auction
- Interest from trade bidders and private equity groups
- Preferred bidder could be selected before Christmas
- Investors hoping for £250m
- Founded in 2006, serves 2.5 million customers
- Total revenues remained flat at over £35m in 2019
Notonthehighstreet, an online gifts retailer, is reportedly considering a £200 million sale after experiencing a surge in revenues during the coronavirus pandemic. The company is working with investment bank Evercore on a potential auction and has received interest from trade bidders and private equity groups. A preferred bidder may be selected before Christmas, with investors hoping to secure up to £250 million for the business. Founded in 2006, Notonthehighstreet serves around 5,000 small businesses and specializes in personalized gifts. Its latest annual report revealed it served over 2.5 million customers in the 2019 financial year, though total revenues remained flat at over £35 million.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the potential sale of Notonthehighstreet, its revenues during the pandemic, involvement of investment bank Evercore, interest from trade bidders and private equity groups, and the involvement of current investors. It also includes relevant details about the company’s services and customer base. However, it lacks some specific numbers or figures to support the claim of ‘surged’ revenues during the pandemic.
Noise Level: 3
Noise Justification: The article provides relevant information about the potential sale of an online retailer and its financial performance during the pandemic, but lacks in-depth analysis or exploration of long-term trends or consequences. It also does not offer actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: Online retail and small business sectors
Financial Rating Justification: The article discusses a potential £200m sale of an online gifts retailer, Notonthehighstreet, which has seen increased revenues during the pandemic. This impacts financial markets as it may lead to changes in the company’s ownership and valuation, and affects investors who are looking to secure up to £250m for the business. It also mentions the involvement of investment bank Evercore in the potential auction process.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.
www.retailsector.co.uk 
