Fashion entrepreneur Kevin Stanford has been accused of lying about what he claims is his majority stake in high street brand All Saints, details of a bizarre court case reveal.
Court documents show Stanford contacted private equity fund Lion Capital in August 2021 in a letter, claiming ‘rightful ownership’ of 62 per cent of the shares.
Rejection: Kevin Stanford contacted Lion Capital in August 2021 claiming ‘rightful ownership’ of 62 per cent of the shares
Stanford, who co-founded Karen Millen and was All Saints chairman until a decade ago, bought All Saints in 2005. He was declared bankrupt by HM Revenue & Customs in February 2019.
Lion Capital, which brought All Saints for £105million in 2011, has rejected his claim.
The fund has opted to pursue a court injunction in a bid to stop Stanford making such statements public.
It says Stanford’s ‘false assertion’ will prejudice any future attempt to sell All Saints, which reported turnover of £364.1million in 2020. Its lawyers have argued Stanford remains ‘unwilling to accept he has no interest’ in the company.
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