Manzanita Capital Selling Unknown Portion of Space NK: UPDATE

Updated (April 30, 2024): Manzanita Capital is officially exploring the sale of some portion of Space NK, per a report from Sky News. The sale could net as much as £300-400 million, depending on the size of the stake sold.

The timing of any sale is uncertain, the report notes, as is the size of the stake that will be sold. Sky News claims Manzanita Capital may wish to retain either a minority or even majority stake in the retailer.

Previously (April 11, 2024): Manzanita Capital is reportedly in talks with investment banks about a potential sale of Space NK that could be between £300 million and £400 million, according to Sky News.

It is unknown whether Manzanita Capital will sell a minority or controlling interest in Space NK.

In the year ending March 25, 2023, earnings for Space NK were reportedly almost £6 million. 

The private investment firm previously explored a sale of Space NK in 2018 advised by Goldman Sachs.

Manzanita Capital first invested in the retailer in 2002.