FRP Advisory is helping the parent firm of equestrian, fashion, and surfwear brands sell urgently.
The company behind a group of well-known outdoor sports clothing brands is scrambling to find a buyer after an agreement to convert it into a London-listed cash shell fell through.
The professional services firm FRP Advisory has been hired to locate a buyer for Internet Fusion Group (IFG), the owner of fashion labels such as Surfdome and equestrian brand Derby House.
According to city sources, FRP was attempting to identify a buyer and close the deal within days.
Also according to a deal disclosed in July 2021, IFG was to transform into the publicly traded company Hawkwing.
Although he is no longer affiliated with IFG, John Browett, the former CEO of electrical products retailer Dixons and Dunelm, was slated to be the executive chairman of the combined group.
Last month, Hawkwing appointed Kroll, the restructuring firm, as administrator.
Cashflow and inflationary pressures have prompted an accelerated sale process for IFG. Which also owns Country Attire and Simply Scuba, according to prospective purchasers.
The company employs roughly 300 individuals.
On Friday, it was unclear whether contingency plans had been devised if new investors could not be found.
