By Aimee Chanthadavong
It was the brand that suffered the most closures when the business entered receivership back in early 2011 and now Fusion Retail Brand, formerly known as the Colorado Group, is putting the retailer back up for sale.
Speaking to RetailBiz, Fusion chief executive Don Grover said the retailer, which is owned by a consortium of hedge funds and banks, has been approached by a number of interested buyers who are taking a keen interest in the casual footwear retailer.
“In the last couple of months a couple of organisations have been pursuing their interest and now the owners thought it was worth investigating those offers and test the market a little bit,” he said.
“So this is really a positive step. It allows the company to explore the sale of the business at a time where we’re in the midst of a turnaround strategy. We’re certainly excited by the opportunity.”
As part of the process, the company has appointed PricewaterCoopers to run the sale with no deadline set.
Fusion Retail also owns diana Ferrari, JAG, Mathers and Williams.
“Colorado is just one brand within the group. It’s a wholesale brand that we sell within Williams and Mathers and we’ve been delighted with the growth. It was the brand that suffered the most closures during the receivership but a lot of customers are still passionate about the brand so we’ve been able to grow Colorado that way. We wholesale Colorado in Myer,” Grover said.