HUDDERSFIELD Town owner Dean Hoyle is reported to have brought in specialist staff for a possible sale of his Card Factory business according to reports today.
Mr Hoyle and his wife Janet are reported by The Daily Telegraph to have appointed KPMG to advise on a sale. The 480-store retailer could fetch up to £400m, observers believe.
Potential bidders for Card Factory include private equity firms Advent International and TPG. Interested parties are likely to receive full details of the assets up for sale later this week.
The chain is just one of a long line of retailers that has been put up for sale by its owners.
Matalan and New Look, the clothing chains, and DFS, the sofa chain, are being lined up for sales or IPOs. Last week Pets at Home, the dog-coat and cat litter chain, was sold for £955m.
Retail chains are seen as attractive targets because they are cash generative and are well-placed to benefit from any upturn in the consumer economy.
Card Factory had sales of £168m over the year to the end of January 2009 and profits of around £29m, according to documents filed with Companies House.
The company employs around 4,500 people.