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Yardley London

This article was originally published in The Rose Sheet

Executive Summary

Old Bond Street Holding Company Limited and its seven subsidiaries, including Yardley, have been placed in receivership with the accounting firm KPMG in London, KPMG announced Aug. 26. The move does not affect Yardley in North America, which is owned by the investment bankers Wasserstein Perella (New York City). Yardley, the luxury soap, fragrance and cosmetics manufacturer, acquired a heavy debt burden following a change of ownership in the early 1990s, making it difficult to rectify its problems, KPMG noted. The receivers are looking at a "number of potential purchasers, both in the U.K. and overseas," the accounting firm said. Twenty-one prospective buyers have been identified, according to KPMG...
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