Sports Direct International plc/Agent Provocateur
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Agent Provocateur is a lingerie brand, with stores and in-store franchises in 15 countries.[1] The company is owned by Four Marketing Ltd, a retail fashion brand agency/distributor with a portfolio of brands.[2]
Ownership
Shareholders: SDI Four LtdOC (32.5%); Benjamin Charles Banks (22.5%), Gino Da'Prato (22.5%), Charles Perez (22.5%) (May.2019).
- Four (Holdings) Ltd, OC
Timeline
Mar.2017 | Pre-Pack Deal: as part of a pre-pack deal, the assets and the brand name of the company was purchased by Four (Holdings) Ltd,OC in which Mike Ashley had a 25% stake (32.5% as of May.2019).[3] ,ref |
Mar.2017 | Agent Provocateur Ltd:OC a new company was formed to hold the trade and assets acquired. |
Mar.2017 | Administration: the business entered administration.[4] 3i Group was heavily criticised for "road-crashing" the business to wipe out creditors,[5] when private equity firm Quadro Capital Partners tabled a higher offer that would have protected both jobs and creditors.[5][6] |
Aug.2016 | Accounting irregularities were discovered, plus a downturn in the market. These led to an immediate requirement for short-term funding, which was not forthcoming. |
2008-2016 | A policy of expansion across 27 countries was pursued, resulting in losses due to expansion costs. |
Nov.2007 | 3i: After Corré and Rees divorced, private equity firm 3i Group plc purchased an 80% stake in the company,[7] via Pearl Acquisitions Ltd,OC itself owned by Pearl (AP) Group Ltd.OC (AR-Mar.2008) |
Feb.1994 | Agent Provocateur LtdOC was founded in Soho, London by Joseph Corré and Serena Rees.[8] |
References
- ^ Store Locator. Agent Provocateur. Accessed Aug.10.2019.
- ^ The Four guys. Ana Santi, Drapers Online, Sept.01.2012. Note: Sports Direct bought a 25% stake in Four Marketing from Convex Capital Ltd.OC
- ^ Confirmed: Sports Direct founder acquires Agent Provocateur. Vivian Hendriksz, Fashion United, Mar.03.2017.
- ^ 3i lost £45 million on Agent Provocateur. William Louch, Paul Hodkinson, Financial News.
- ^ a b Agent Provocateur founder brands Mike Ashley's purchase 'a stitch-up'. Graham Ruddick, The Guardian, Mar.02.2017.
- ^ Agent Provocateur co-founder slams 3i as “fraudulent, negligent, incompetent”. Praseeda Nair, GrowthBusiness.co.uk, Mar.03.2017.
- ^ Private equity firm 3i pays £60m for Agent Provocateur. Julia Finch, The Guardian, Nov.16.2007.
- ^ Lingerie boss rejects MBE because Blair ‘is morally corrupt’. Alan Hamilton, The Times, Dec.29.2008. Original archived on Jun.15.2011.