Folli Follie seeks buyer for links of London

Folli Follie

Greek jeweler Folli Follie has confirmed reports it’s considering options for offloading its Links of London jewelry business.

The ailing company, which purchased the UK-based chain of jewelry stores in 2006, has appointed financial advisory company Deloitte and Savigny to weigh its options for the sale. Folli has been in trouble financially since the results of an audit showed it had overstated its 2017 revenue by more than EUR 1 billion ($1.11 billion).

Since then, Links of London has been pursuing a turnaround plan for the business that included closing its US-based retail outlets. Folli maintains it continues to support that plan.

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.