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Liquidation: White Stuff was founded in 1985
White Stuff has been acquired by South Africa-based retail company The Foschini Group (TFG).
It is understood that TFG, which also owns Hobbs, Whistles and Phase Eight, will pay around £50m for the High Street fashion chain.
TFG has said it plans to further expand White Stuff’s portfolio of stores and concessions following the brand’s recent positive growth.
The retailer, founded in 1985, has 113 stores and 46 concessions in the UK. The business’s revenue grew to a record £154.8m in the year to April.
White Stuff chief executive Jo Jenkins will continue in the role, while founders George Treves and Sean Thomas will step down from the board and leave the company.
White Stuff co-founder Treves said the sale to TFG is “significant and emotional” for him and Sean Thomas.
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