While investment banks have not been retained, the Brisbane-based chain’s owner, Champ Ventures, is said to be already preparing the asset for auction, reports today’s Australian Financial Review.
Since Champ’s investment in 2010, the company, valued at around $300 million, has grown from 72 stores to 300. Super Retail Group owned chain, Rebel Sport, is one likely contender, however sources have said US private equity firms and sports companies could also be expected to run the highly successful sports apparel chain.
The activewear company was founded in 2000 by Lorna Jane Clarkson, a British-born women that lives in Australia and is still at the helm of the company today.
Lorna Jane has at least 120 stores in Australia, as well as a targeted e-commerce presence for local consumers. It also has around 15 international stores in the US state of California, and in May launched a standalone online store in the UK.