A chain of clothing stores with stores across the UK has been acquired by turnaround specialist Baaj Capital.
Founded almost 30 years ago, York-based Leading Labels has 15 stores across the UK, selling men’s and women’s fashion brands.
As a result of the impact of the Covid-19 pandemic on the clothing retail industry and the company’s reliance on ‘brick and mortar’ sites, the retailer’s business in 2020 was considerably limited. As a result, shareholders accelerated their retirement plans and sought a solvent exit.
Quantuma, led by corporate finance director Adrian Howells, provided advisory services to support the exit. The process included priming Leading Labels for sale and finding a suitable buyer, right through to hands-on management to close the deal; reached in just over four weeks.
Adrian Howells, Director of Quantuma, said: “2020 has been a difficult year for retail and many have reassessed their short and long term business plans. We are therefore delighted to have accompanied the shareholders of Leading Labels in the sale of their business to Baaj Capital, which will modernize operations – thereby ensuring the survival of the business and allowing it to thrive under new management.
“Completing this sale in such a short time is an excellent result for both the shareholders and the staff of Leading Labels, because the future of the company is secure.”