Fortress Investment Group Saves Majestic Wines
Fortress Investment Group is an exemplary global investment manager dealing with highly diversified assets. In the 22 years that it has been operating, Fortress Investment Group has managed to accrue over $52.7 billion worth of assets under its management. The last couple of years have been some of the most fruitful for this New York based enterprise. It was acquired by SoftBank some years ago, and it also ventured into the real estate market with the TSX Broadway Development. In 2020, the Covid-19 pandemic broke out and affected business operations across the world. Here is an overview of this global investment manager’s saved Majestic Wines, one of the UK’s most prominent retailers.
Investing in Majestic Wines
Majestic Wines is one of the most legendary names in the British retail market. Over a couple of decades, this retailer had grown to operate 140 stores across the country. Unfortunately, the brick-and-mortar retail space was one of those hardest hit by the pandemic due to lockdowns imposed in Britain and many other parts of the world. The emergence of e-commerce had already weakened the sector. The pandemic came like a knockout blow for many physical retailers who were surviving by a hair strand.
Soon after the lockdown was effected in Britain, Majestic Wines announced that it would be shutting down its 140 stores. Fortress Investment Group, which has been looking for a way to get into the British retail market and solidify its international portfolio, came out with an offer to bail out the retailer. Fortress investment Group New York manager went on to invest millions of pound in Majestic Wines. According to the firm’s management, the finances would affect strategic changes throughout the retail chain to help it reclaim its lost glory. The retailer also went on to open its 141st store in the country as a symbol of its fresh start. It’s also working on launching its e-commerce platform soon.
For details: www.fortress.com/contact