'For sale' sign at retailer All Saints

High street fashion chain All Saints has reportedly been put up for sale with price tag worth a potential £140 million.

The retailer - which has 63 stores and 47 concessions across the UK, Europe, the US and Russia - is understood to have appointed Ernst & Young to advise it on the sale process.

The group is owned by retail entrepreneur Kevin Stanford, with significant minority stakes held by collapsed Icelandic banks Kaupthing and Glitnir. It is thought administrators of the Icelandic groups were behind the push to put All Saints up for sale to realise investments in a host of UK retail assets.