Recent press speculation that discount sportswear brand M and M Direct is up for sale has been slammed by the company. An item appearing in a national newspaper last month reported that ECI Partners had put the business up for sale, however a spokesperson for M and M Direct criticised the article calling it, “inaccurate, highly speculative and misleading”. In a statement to CEB, the spokesperson continued, “Whilst M and M Direct’s private equity partner, ECI, has appointed Deloitte to undertake a strategic review of the future potential growth of the company, this review is still being undertaken and until its findings are revealed, any rumours of a trade sale are premature to say the least. A sale is just one possible outcome of the review, others being a stock exchange listing and the business staying as it is.” M and M’s financial year has recently closed and its unaudited revenues have increased by 19 per cent on the previous year to approx £62 million.
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