Victory considers buying Cadoro

VICTORY, the holding company for Richard Branson's Virgin Clothing company, said it was considering buying Cadoro, the menswear retailer, after lending the company pounds 5.2m in a failed bid to stop it collapsing. In the past five weeks, Victory has lent the money to Cadoro, which sells Virgin Clothing and owns the Capolito Roma brand, to avert a cash flow crisis, but yesterday the company went into administration.

Victory, an AIM-listed company 55 per cent-owned by Mr Branson, is now in talks with PriceWaterhouse-Coopers, the administrators, over the purchase of Cadoro.