brand: Majestic is considering selling all of its outlets as part of a radical shakeup of the business under its chief executive, Rowan Gormley, who is aiming to free up cash to pump into online operations under the fast-growing Naked Wines brand, according to The Guardian. Majestic Wine plc plans to eventually rebrand as Naked although it is unclear if the Majestic brand would be retained if the stores were sold. The move would represent the latest bet on the fortunes of bricks-and-mortar retail from Elliott, after it last week bought the US bookshop chain Barnes & Noble, which will be run alongside Waterstones, the British books chain it bought in April 2018. In April it emerged that Majestic had appointed Rothschild & Co, the investment bank, to work on options for a sale of part of the business, with an update due to be announced on Thursday. Shares in Majestic Wine rose by 9.3% on Wednesday after Sky News reported Elliott's interest, as the winemaker aims for a price tag of as much as 100m for the stores. This year Gormley warned of the likelihood of store closures as part of the plans.
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