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Subject: Disney's store sale scrapped

Author:
Jayne

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Date Posted: 17:07:35 01/02/05 Sun

WALT DISNEY has effectively abandoned plans to sell its European retail chain after failing to agree terms with a series of prospective buyers.
The media giant is understood to have decided to retain the 106 stores in the UK and continental Europe after a recent sales improvement.

Disney had been in negotiations with several potential management buy-in teams. One was fronted by Peter Morris, the former chief executive of Coffee Republic, and another by Pierre-Yves Gerbeau, the former boss of the Millennium Dome and an ex-Disney man.

The company also held talks with the management of the retail business about a buyout valued at around �50m, but these have now ended.

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