Ex-Tesco boss eyes Inspecs float

According to a report in The Sunday Times, former Tesco boss Lord Ian MacLaurin is looking to float eyewear design company Inspecs for £170m.

Inspecs, chaired by Lord MacLaurin, creates designs for brands such as Superdry and Radley, as well as producing frames for Vision Express and Specsavers. It is being advised on an autumn listing.

Founded in 1988 by Robin Totterman, Inspecs was valued at about £170m and an initial public offering could see it raise up to £60m. Last year, it made underlying earnings of £6.2m on sales of £45m.