Whittard latest - buyer found?

RUMOURS are rife that a buyer has been found for a High Street retailer.

RUMOURS are rife that a buyer has been found for a High Street retailer.

Whittard of Chelsea, which has a branch in Weston's Sovereign Shopping Centre, was yesterday (Tues) reportedly close to calling in the administrators.

Now there are rumours a buyer, private equity firm Epic, has been found for the retailer, which sells tea, coffee and crockery.

The chain was bought by Icelandic investment company Baugar three years ago for around £21million.


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But earlier this year, Iceland's banking sector suffered a massive loss of confidence, and investors, including North Somerset Council, could still lose money as a result of the effects of the credit crunch on the tiny country.

It is thought that administrators Ernst and Young had been lined up to provide assistance to Whittard of Chelsea.

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The Weston & Somerset Mercury has contacted the retailer but a spokesman did not want to comment.

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