Old England sold

[rjman]

Perhaps a glimmer of hope, Michael?

From the DNR --

Richemont Sells Old English Store

LONDON (March 22, 2006) - Compagnie Financiere Richemont SA, the Switzerland-based luxury goods company, has sold the French department store Old England SA to Tercade SA for an undisclosed price, Richemont said in a statement Tuesday. Tercade is a holding company controlled by Olivier Goldberg. “Old England was not a core part of our luxury business,” said a Richemont spokeswoman. She declined further comment. The statement said the transaction would have no material impact on Richemont’s balance sheet, cash flow or results. Last summer, Richemont sold the English men's wear brand Hackett Ltd. to Torreal S.C.R. S.A., a Spanish investment company, for an undisclosed price. SAMANTHA CONTI

[Étienne]

Perhaps a glimmer of hope, Michael?

Do you think that is a good move for Old England? I have not yet noticed any improvement in Hackett, but I shall look more in detail.

[Alan]

Hackett had already gone 'Burberry hip' before the sale, hadn't they? Lots of logowear and such. There's probably no hope for them.