Fatface operates out of 180 stores and its owners reportedly appointed Rothschild to advise on strategic options last May. Credit: Shutterstock.

Sky News reports a deal by Next to acquire FatFace is in its final stages and comes just three years after it was taken over by its lenders.

Both Next Plc and FatFace declined to comment when approached by Just Style.

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But according to the Sky News report citing city sources, a deal could be announced this week.

FatFace operates out of 180 stores and its owners reportedly appointed independent financial advisory group Rothschild to advise on strategic options last May. In 2020 it had been taken over by lenders including Alcentra and Lloyds Banking Group.

Rothschild declined to comment when approached by Just Style.

FatFace is a B-Corp company that enjoyed strong sales in its last financial year.

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An acquisition would mark the latest in Next’s cap which in recent years has acquired Cath Kidston, Made.Co, Joules and JoJo Maman Bebe . It is also the majority shareholder of Reiss after acquiring another stake in the company last month.

At the end of last month Next raised its FY profit guidance from £845m ($1.3m) to £875m, up 0.5% year on year after group sales jumped by 5.4%.