MUSIC MAGPIE INVESTMENT UP FOR GRABS

The private equity backer of Macclesfield-based Entertainment Magpie, one of the fastest-growing businesses in the country, is reportedly looking at options which could see it sell its minority stake.



LDC, which invested in the business in early 2011, has appointed corporate financiers from Deloitte to examine options, Sky News said.



Trading as Music Magpie in this country, the group buys unwanted CDs, games, technology and most recently branded fashionwear, cleans, reconditions and repackages the goods and then re-sells it through multiple channels.



The multiple award-winning group, led by charismatic chief executive Steve Oliver, has recently launched in the US too.



In March its financial results for the year to the end of May 2012 showed dramatic growth in profits and sales.