After 30 years in the bra-making business, Rigby & Peller is hanging up its straps and selling most of the business to Belgian bar-maker Van de Velde.
The famous British lingerie firm, whose fans include the Queen and Lady Gaga, has been run by the Kenton family for almost 30 years. The family will keep a 13% stake in the business, though, selling the other 87% for £8m. June Kenton said it was time to sell up because the company is on an ambitious growth plan and needs a bigger partner to help it achieve this. So this financial support could have come just in time…. Boom, boom.
- Image credit: Flickr/Chris M Manning