old

worldstoresAn affiliate of global finance giant Goldman Sachs has taken a share in the furniture and home retailer Worldstores after making an eight-figure investment.


New statutory filings show the affiliate — Broad Street Principal Investments — has an interest in 15,737 D Class shares in the fast-growing retailer, representing around 16 per cent of all issued stock.


It is thought to have paid circa £22m for the shares, and brings total investment in the Twickenham based Worldstores business at the dateline of its last filed annual return (8th December) to around £49m.


In all, £25m of D Class shares were issued last year, with the rest going to existing shareholders.


Worldstores acquired the Kiddicare business last autumn for an as-yet undisclosed sum. The ecommerce firm is also backed by Balderton Capital and Serene Capital and grew sales by 14 per cent in 2013–14* to just under £60m, though pre-tax losses widened to £7.3m (2013: £4m).


* to end January



TO READ THE FULL STORY: