Seasalt’s plans of striking a deal with British fashion retailer Next has come to a halt owing to uncertain market environment.
The Cornish lifestyle retailer, reportedly, has been searching for a buyer and in order to make this happen, it’s been bringing in lots of investors – not surprising following impressive sales last summer.
While the deal with Next hasn’t worked out, there were reports of investment firm Davidson Kempner also showing interest in the retailer at one point of time.
The retailer said “The current uncertain state of the market and the many unprecedented external factors affecting the economy obviously do not make this an ideal time for an investment that reflects the strength and quality of our business.”
Seasalt now intends to refocus its efforts to take its business forward and grow.
Founded in 1981, the UK-based retailer is known for its knitwear, tops, jackets, coats, shirts and blouses, amongst others.
