Pod appoints RSM to support shareholders in “evaluating their options”
The healthy chain currently has over 20 stores.
Pod has appointed RSM in a bid to “support shareholders in evaluating their options to secure the continuing success” of the said concept.
“Pod is a successful profitable business with a strong management team and a plan for continued reinvention and growth. We anticipate strong interest in supporting the management team to take the business to the next phase of its success,” Natalie Ord, an M&A and private equity partner at RSM, said.
The London-based group, currently with 22 stores, reported a “dramatic turnaround in performance” in 2018 last month, achieving turnover growth with a reduced portfolio.
Despite two store closures, the group’s like-for-like sales increased by 4% in the year to 3 January 2019. Total sales reached £17.4 million, with earnings increasing to £400,000 from a loss of £800,000 the previous year.
The company also recorded a pre-tax loss of £486,973, up from a loss of £1.7 million the year prior.
