Speaking to Retail Week, Majestic’s managing director Joshua Lincoln said that American investment group Fortress were fully engaged with his vision for the business and prepared to back the retailer with the necessary investment to achieve his goals.

“We met with Fortress a few times. They were our preferred bidder actually from the beginning because they were the most engaged with the brand,” he said. “They were the most engaged with wanting to grow the business and doing that more than any of the others and they were most engaged with the vision we put in front of them.”

Lincoln said that no Majestic stores would be closing as a result of the sale, and that all job roles “are to remain and are secure now”.