PPR Said to Plan Piecemeal Redcats Sale Due to Financing

PPR SA plans to sell Redcats in pieces after failing to secure a buyer for all of the online retailer, according to two people with knowledge of the matter.

A challenging debt market has made Redcats too expensive for bidders to buy in one block, said the people, who asked not to be named as the plans aren’t public. PPR will divide the apparel and home-furnishing retailer along geographic lines, trying to sell separately the U.S., Scandinavian and European businesses as well as the Vertbaudet and Cyrillus brands, another person said. At least one part may be sold by the end of this year, the person said.