In The Style has agreed to sell itself to a private equity firm for £1.2m in a bid to avoid administration.
The Salford-based company is to dispose of its only operating company, In The Style Fashion, to Baaj Capital LLP.
The offer includes a condition that founder Adam Frisby takes a stake in ITS Holdings 2023 Limited (Bidco), a newly-established company formed for the purposes of the sale and to also become chief executive of ITSFL on completion.
