{"id":159588,"date":"2017-12-17T22:18:00","date_gmt":"2017-12-17T22:18:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/two-south-african-buyers-compete-for-jigsaw\/"},"modified":"2021-08-12T13:48:19","modified_gmt":"2021-08-12T13:48:19","slug":"two-south-african-buyers-compete-for-jigsaw","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/two-south-african-buyers-compete-for-jigsaw\/","title":{"rendered":"Two South African buyers compete for Jigsaw"},"content":{"rendered":"<p><strong>Two South African retail groups are reported to be competing<\/strong> to land British premium fashion brand Jigsaw.<\/p>\n<p><!--more--><\/p>\n<p>The Foschini Group, which <strong>already owns Whistles, Phase Eight and Hobbs,<\/strong> is said to be vying with <strong>Truworths, which owns footwear retailer Office,\u00a0<\/strong>to secure a deal to buy the chain, <a href=\"http:\/\/www.telegraph.co.uk\/business\/2017\/12\/16\/jigsaw-faces-takeover-tussle\/\">according to<em> The Telegraph<\/em><\/a>.<\/p>\n<p>It was revealed in October that Jigsaw, which was <strong>founded in 1970 by John Robinson<\/strong>, <a href=\"https:\/\/www.theindustry.fashion\/\/jigsaw-reported-considering-sale\/\">had appointed KPMG to explore its options and to help with approaches from potential buyers<\/a>. At the time it was understood to be keen to wrap up a deal before Christmas.<\/p>\n<p>Last month it was reported that Jigsaw had approached The Foschini Group, which had <a href=\"https:\/\/www.theindustry.fashion\/\/hobbs-acquired-whistles-owner-foschini\/\">just secured a deal to buy Hobbs from private equity owner 3i<\/a>. That deal marked <strong>Foschini's third acquisition of a premium UK fashion retail brand<\/strong>\u00a0in as many years having acquired Whistles in March of 2016 and Phase Eight in 2015.\u00a0South African fashion chain <strong>Truworths acquired Office in 2015<\/strong>.<\/p>\n<p>Jigsaw, which <strong>operates 80 stores in the UK<\/strong> and reported sales of\u00a0\u00a395m in 2016, is said to be trading well but has been hit by higher import costs due to the drop in the value of sterling following the Brexit vote. It is also working on a debt refinancing deal to stabilise its balance sheet, <em>The Telegraph<\/em> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":148146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[32,8250,12403,12563,30,35,12468,12038,9660],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Two South African buyers compete for Jigsaw - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Two South African retail groups are reported to be competing to land British premium fashion brand Jigsaw. 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