The Monday Briefing: Victoria’s Secret, TM Lewin, The Hut Group

Hits: 15

Victoria’s Secret: Marks & Spencer and Next are competing to take over the British arm of US lingerie giant Victoria’s Secret, Sky News has reported. The two high street heavyweights are among the parties interested in becoming Victoria’s Secret’s new UK franchise partner. The US retailer appointed Deloitte as administrator in June.

Next and M&S have been contacted for comment.

TM Lewin: The new owner of TM Lewin, private equity firm SCP, has hired a restructuring expert ahead of a likely pre-pack administration that would close most of its store estate, the Times has reported. SCP had been pushing the retailer’s landlords to agree to rent cuts but is now planning to operate the business as a principally online brand, the newspaper said.

SCP has been contacted for comment.

The Hut Group: Online retailer The Hut Group has reignited speculation that it will make its stock market debut after lining up meetings with investors, the Times has reported. The group operates more than 100 health, beauty, fitness and lifestyle international websites, selling direct to consumer through its ecommerce platform. Fashion websites include All Sole, Coggles and online department store The Hut.

The Hut Group has been contacted for comment.

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