Lakeland’s family owners hoist ‘for sale’ sign ahead of tax rises The family behind Lakeland, one of Britain’s most prominent privately held retailers, is exploring a sale after more than 60 years amid growing cost pressures sweeping the industry.
Lakeland, which was established in 1964 as Lakeland Plastics, employs roughly 1,000 people across a chain of 59 stores, at its head office in Windermere and its distribution centres.
Like most retailers, Lakeland is said to be facing a significant hit to its finances as a result of tax hikes announced by Rachel Reeves, the chancellor, in her budget in October.
Sky News has learnt that Lakeland, which is controlled by the three sons of founder Alan Rayner, has appointed advisers to gauge the appetite of prospective buyers for a deal.
The increase in employers' national insurance, which comes into effect in April, has provoked particular protest from retailers and hospitality businesses, with industry bodies warning that the changes will be a tipping point for many employers.
