Napoleon Perdis has found a potential saviour in private equity firm KUBA Investments, which has offered to purchase the collapsed cosmetics business for an undisclosed sum.
The deal, yet to be approved by creditors, would see prominent cross-border retailer Livia Wang and her business partner Henry Lee take control of the business, with an eye on overseas expansion, likely into China.
The eponymous retail chain, founded by Napoleon Perdis in 1995, was placed into voluntary administration in January, owing over $20 million to creditors, including Priceline owner Australian Pharmaceutical Industries.
Perdis supports the deal and despite signing over his stake in the company will continue to contribute his creative expertise to the busi…
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