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Article: New Look founder Singhs his way to bank with pounds 200m
- Article from:
- The Sunday Telegraph London
- Article date:
- May 13, 2007
- Author:
CopyrightCopyright 2007 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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TOM SINGH, the founder of New Look, the fashion retailer that is
in the process of being sold by its private equity owners, could
pocket pounds 200m from the retailer's imminent sale.
Singh, who holds a 22 per cent stake in the chain that he founded
in 1969, is in the process of deciding whether to sell some or all of
his stake in New Look, which has an estimated price tag of pounds
2bn. However, friends believe that Singh is likely to be tempted to
cash out from the deal and pursue other ventures.
Singh's massive potential windfall will raise questions over his
decision to back the sale of the chain for pounds 700m just two
years ago. New Look has around pounds 1.1bn of debt, meaning ...