>>> Links of London could be put up for sale by Folli Follie

Links of London could be put up for sale by Folli Follie

Links of London, a UK-based jewellery retailer, could be put up for sale by its owner Folli FollieGroup , The Daily Telegraph reported on Monday (22 April).
The newspaper cited unspecified sources, who said Folli Follie may decide to cut off support to Links of London that could trigger a sale of the jewellery chain.
According to a Sunday Times report on 17 March, Links of London is close to collapse and is thought to have considered a company voluntary arrangement (CVA), involving shop closures and lower rental payments.
However, The Daily Telegraph reported, citing company insiders, that the accountancy firm Deloitte is advising Links of London, in order to improve its performance. Links of London reported a 3% increase in like-for-like sales in the year to date, the item said.
The article went on to say that Links of London’s management team is believed to have hired Deloitte to advise on its options.
Folli Follie, a Greece-based retailer, overstated its sales in Asia by 90% in FY17 and had in fact made a USD 45m (GBP 34.6m) loss, rather than the USD 316m profit the company reported.
Folli Follie is also in talks with its bondholders about a potential debt refinancing, the report added.