Hilco Capital in 'advanced talks' to take over Lakeland - report

(Sharecast News) - Hilco Capital is said to be close to sealing a deal to buy Lakeland following months of talks between the struggling home and kitchenwares retailer and potential buyers. According to Sky News, Hilco and Lakeland's management are now in "advanced talks" with shareholders regarding a buyout.

Hilco, which calls itself a "special situations investor" and asset-based lender, is known for backing high street retailers like HMV in 2013 and Superdry in 2024.

Sky, which cited insiders familiar with the matter, said that a formal agreement is possible in the coming days.

Modella Capital, which just last month took over WH Smith's high street division, was also previously said to be in the running for Lakeland.

The family-owned business put itself up for sale in January after 61 years of operation due to rising cost pressures, such as the scheduled increases in employer national insurance contributions. The retailer employs around 1,000 people across a network of nearly 60 stores, a head office and distribution centres.