SIR TOM HUNTER SELLS OF­FICE SHOE SHOP CHAIN FOR £150M

The Herald Business - - Themonthinheadlines -

Dec 16 Sir

Tom Hunter has sold his Of­fice shoe chain to a pri­vate equity firm for about £150m, net­ting the Ayr­shire en­tre­pre­neur his sec­ond huge wind­fall in three days. The sale of the up­mar­ket re­tailer will al­low SirTom to make a re­turn of al­most 10 times his in­vest­ment in the firm. It will also re­sult in a mul­ti­mil­lion­pound pay­day for Of­fice’s Scot­tish chief ex­ec­u­tive, Brian McCluskey. Sir Tom has sold the busi­ness fol­low­ing a pe­riod dur­ing which Of­fice has en­joyed dra­matic growth in sales af­ter cash­ing in on the de­mand for branded footwear.

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