Fat Face bosses poised for sale

TWO winter sports fans who started selling sweatshirts to fund skiing trips could be in line for a multi-million pound windfall after hiring advisers to look at selling the lifestyle clothing brand Fat Face.

Tim Slade, 39, and Jules Leaver, 40, who started the business out of their rucksacks in 1988, have appointed the investment bank Rothschild and the broker ABN Amro to consider the options in the New Year.

It could value the business at more than £50m.

Fat Face has more than 80 stores in the UK and France specialising in a range of clothing from casual items such as jeans and T-shirts to more sports-related apparel, including climbing shoes and fleeces.

Rumours of a flotation of the business began to surface as long ago as October last year when the company strengthened its board by hiring Louise Barnes from Monsoon as chief executive.

More recently, Stephen Sunnocks, the former chief executive of New Look, joined as a non-executive director.

But the poor reception for new companies joining the stock market kept the business in private hands. Although a float remains a possibility, it is understood that the company's advisers have been instructed to look at all the options, including a sale.

A decision will be taken once the vital Christmas trading period is safely over.