Deloitte Appointed to Explore Sale Options for Karen Millen and Coast
- Kaupthing explores sale options for Karen Millen
- Deloitte appointed to advise on potential sale
- Sale process could take months to complete
- Coast fashion retailer may also be included in the sale
Icelandic bank Kaupthing, which owns fashion retailers Karen Millen and Coast, has appointed Deloitte to explore the sale of the company. According to Sky News, Kaupthing is reviewing its options for the retailers and sources said a sale of the company could take months to complete. It is not yet known if the company would be valued if it were to be put up for sale, but it is thought that Coast – the fashion retailer acquired out of administration by Karen Millen in October – would be included in the process. Sources told Sky News that the consideration of the sale was prompted by ‘unsolicited expressions of interest’. Karen Millen employs around 1,700 staff globally and has 57 shops and a number of concessions in the UK.
Factuality Level: 8
Factuality Justification: The article provides relevant information about Kaupthing exploring the sale of Karen Millen and mentions the involvement of Deloitte. It also includes details on the potential timeline for the process and the possible inclusion of Coast in the sale. However, it lacks specifics on the valuation and the reason behind the consideration of the sale.
Noise Level: 3
Noise Justification: The article provides some relevant information about Kaupthing exploring the sale of Karen Millen and Coast, but lacks depth and analysis. It does not offer any actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: Karen Millen and Kaupthing Bank
Financial Rating Justification: The article discusses the potential sale of Karen Millen, a fashion retailer owned by Icelandic bank Kaupthing, which could impact the financial markets and companies involved.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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