Ann Summers news and archive

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...

Business

Ann Summers carries out redundancies, Gold family steps in with funding

Lingerie retailer Ann Summers has cut a number of its jobs amid rising losses at the firm, with the company’s owners, the Gold family, now also stepping in to provide financial aid. Earlier this week, it was reported by Retail Week that Ann Summers had made between 20 and 30 jobs redundant in an effort to streamline operations. While the number...

Business

Ann Summers to launch marketplace dedicated to lingerie

Lingerie retailer Ann Summers has revealed plans to launch a UK-based online marketplace dedicated to women’s underwear. The retail platform, dubbed ‘Knickerbox’, is expected to go live on July 16, as reported by Retail Week, which stated that the company had invested 1.2 million pounds into its development and associated warehouse capabilities....

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Ann Summers snaps up eight million pound funding to bolster growth

Ann Summers has reportedly snapped up an eight million pound asset-based lending facility from lender Secure Trust Bank Commercial Finance (STB CF) as it looks to move into its next phase of growth. The deal was secured with an existing shareholder of the lingerie retailer, which is hoping to bolster its e-commerce and online retail offering as...

Business

Ann Summers hits 100 million pound profit ahead of expansion plans

Lingerie retailer Ann Summers hit a milestone for the 52 week period ended June 25 2022, increasing its turnover from 93.2 million pounds to 100.1 million pounds, largely driven by retail sales. The news comes as the company unveiled that it had been mulling a UK retail expansion, according to a filing with the region’s Companies House, where it...

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Ann Summers names Maria Hollins CEO

Lingerie and lifestyle brand Ann Summers has announced that its current managing director, Maria Hollins, is to become chief executive officer months after its former head Jacqueline Gold passed away. Hollins initially joined the company in February 2019 as joint managing director, before assuming the position in its entirety in February 2022....

People

Ann Summers head Jacqueline Gold passes away after battling breast cancer

The executive chair of lingerie retailer Ann Summers, Jacqueline Gold, has passed away at the age of 62 after a lengthy battle with breast cancer. Gold’s sister Vanessa announced her death in an Instagram post, where she said: “It is with unspeakable sadness I’m writing to let you know that my incredible sister – our amazing Ann Summers...

People

Ann Summers in management reshuffle

Ann Summers has announced a number of changes to its management team amid its ongoing turnaround strategy. Jacqueline Gold is stepping down from the position of CEO to take on the job of executive chair. In her new position, she will work closely on the company’s strategy, while “remaining the face of the business in the wider world”. She will...

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Ann Summers returns to profit in 2021, sales up 9 percent

Ann Summers has revealed it swung to a profit last year as it underwent a restructuring by way of a company voluntary arrangement (CVA). The British lingerie retailer said it made a “meaningful return to profit” in the year to June 2021, full details of which it said will be shared later this year at Companies House. In the same period, the...

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Ann Summers CVA approved by creditors

Ann Summers has received the green light from its creditors to go ahead with a company voluntary arrangement (CVA) to restructure its store estate. The CVA, which was approved by 90 percent of creditors, will affect the 25 of Ann Summers’ 91 stores it was unable to agree revised rent terms for with landlords. They will now move to turnover-based...

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Ann Summers launches CVA proposal

Ann Summers has become the latest UK fashion business to launch a company voluntary arrangement (CVA) in a bid to move its stores to a turnover-based rent model. The company said the CVA will only affect the 25 of its 91 stores it was unable to agree revised rent terms for with landlords. The brand has called in FRP Advisory to oversee the...

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Ann Summers considers CVA

Ann Summers CEO Jacqueline Gold has revealed the company is considering launching a company voluntary arrangement (CVA) as it struggles to cope with difficult trading amid the Covid-19 pandemic. Gold said that the company has tried to work with landlords to change its rent to a turnover-based model. She said that while some landlords have taken...