Lakeland Explores Sale After Decades of Family Ownership

The UK kitchenware retailer cites rising costs and economic pressures as it considers restructuring options for long-term sustainability.

Lakeland, a family-owned kitchenware retailer founded in 1964, has engaged advisers to explore a potential sale of the business.
The company faces significant financial challenges, including a £1.9 million loss in 2023 and flat turnover of £153 million, attributed to high inflation and reduced consumer demand.
Rising employer National Insurance contributions and other tax changes from the Chancellor's recent budget have exacerbated cost pressures on the business.
The Rayner family, who have owned and managed Lakeland for over 60 years, are seeking to ensure the brand's long-term viability in a challenging retail environment.
Financial advisers Teneo and PwC are assisting with the sale process, while HSBC has extended Lakeland's £7.5 million loan facility to 2028.