Jack Wills has reportedly appointed KPMG as its advisors after the high street retailer has struggled to achieve sales growth over recent periods.
The company issued a statement on Monday saying KPMG has been appointed ‘to carry out a review of the business and explore future opportunities. In the meantime, management remains focused on its strategy of new product development, improving margins and driving cost efficiencies, which is already reaping benefits,’ The Guardian reported.
Reports suggest that the reason behind the move was that HSBC had threatened to withdraw its lending facilities and its owners, Bluegem Capital Partners, are unwilling to provide more funding, after already pumping millions in to the company.
