N Brown Group has announced significant job cuts as it moves towards privatisation.
- Around 100 roles in the Manchester head office are set to be cut by the end of October.
- A consultation involving approximately 200 employees has been initiated to discuss the redundancies.
- The job cuts are part of a strategic review to ensure sustainable growth for the company.
- The redundancies precede a £191 million acquisition by Joshua Alliance, a company director.
N Brown Group has proposed a series of workforce reductions at its headquarters in Manchester, which are anticipated to affect around 100 roles as the company transitions towards becoming privately held by the Alliance family. The organisation has initiated a consultation phase involving approximately 200 staff members, revealing that the redundancies will encompass 98 roles within the head office and an additional seven jobs within its supply chain hub. Affected employees are expected to exit the business by the end of October.
The roles at risk span a variety of functions including buying, merchandising, logistics, finance, data, and creative departments. This organisational review is part of a strategic transformation aimed at fostering sustainable growth for the N Brown Group. According to a company spokesperson, the firm is committed to supporting its colleagues throughout the transition, indicating the decision was not made lightly.
This development comes as N Brown Group has entered into a £191 million takeover agreement with Joshua Alliance, a non-executive director and member of the founding family. The Group has expressed that its current listing on the AIM market no longer serves its interests, citing very low trading liquidity and limited interest from UK fund managers in small-cap consumer stocks. Despite the job cuts, the company maintains that the redundancy process is unrelated to the acquisition discussions, as stated in their announcement on the London Stock Exchange.
N Brown Group remains steadfast in adhering to its legal and regulatory obligations throughout the redundancy process. The organisation reiterated its commitment to providing an exceptional customer experience while implementing changes essential for its strategic growth and long-term potential. This marks a pivotal moment in the company’s efforts to align its organisational structure with its business objectives.
The N Brown Group’s workforce reduction marks a significant step in its strategic transformation as it prepares for privatisation.
