March 2, 2017 / 4:08 PM / 6 months ago

Agent Provocateur sold to Four Holdings after going into administration

Men walk past a branch of the upmarket lingerie brand, Agent Provocateur in London, Britain, February 21, 2017.Toby Melville

(Reuters) - Luxury lingerie retailer Agent Provocateur was sold to Four Holdings on Thursday, after going into administration, its administrator AlixPartners said.

The chain, backed by buyout fund 3i (III.L) had been hit by a luxury spending slowdown. 3i had also blamed accounting issues and an inconsistent execution of a store expansion program.

The terms of the transaction were not disclosed.

Reporting by Dasha Afanasieva; Editing by Mark Potter

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