Endless considers selling The Works

The Leeds-based private equity firm is said to have held talks with KPMG about launching a formal sale process at the end of the year, with an exit expected in early 2011.

The currently circulated £80m valuation for the company would mark a significant turnaround of the 270-store chain that fell into administration in January 2008.

Endless acquired The Works in May 2008 for around £17m and appointed Anthony Solomon as chairman and Bob Lister as managing director to restructure the company. It generated revenues of £88.8m in 2009, while EBITDA for the year to 30 April 2010 is believed to be £10m.

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