Faith in talks to secure management buy-out

WOMEN'S shoe retailer Faith was yesterday reported to be in advanced talks with two bidders over securing funding for a management buy-out of the firm.

Private equity groups Endless and Epic are said to be interested in backing the management buy-out. A deal is thought to be imminent.

Faith has 78 stores and 120 concessions in department stores. But parent company FEC Holdings owes debts of 14 million to Barclays Bank, investment fund Agilo and Faith's management.