All Saints 'for Sale,' Seeking Investors

all saints

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All Saints' signature Singer sewing machine window display.

Iceland's economic woes have caused some fashion fallout.

Liquidators to two collapsed Icelandic banks have put their stakes in the British clothing chain All Saints—which made its U.S. début last year—up for sale, the Telegraph reports.

Though the majority of the retailer's stock is owned by entrepreneur/Karen Millen co-founder Kevin Stanford, who reportedly plans to hold on to his investment, Kaupthing and Glitnir liquidators have hired Ernst & Young to seek out new buyers.

The deal puts the edgy East London-chic brand at an estimated £140 million value (around $227 million).

"[The Icelandic banks] are looking to exit and realize a return on their investment," All Saints says.

Get the full story from the Telegraph.