Fashion designer Jeff Banks is reportedly to threaten UK supermarket firm J Sainsbury with legal action unless the company drops its attempt to terminate his contract or pays him £15m (US$25.4m).
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Banks plans to telephone Sainsbury’s chief executive, Sir Peter Davis, to try to resolve the row, which emerged when Sainsbury’s said it is seeking an end to its business relationship with Banks, as part of a move to overhaul its clothing business.
“I’ll call Sir Peter on Monday and ask him if he would like to resolve this amicably. [He has] one last chance, or litigation will follow,” Banks told the Sunday Telegraph.
Banks is seeking £15m in compensation for lost royalties from his contract, which runs to June 2005, the newspaper reported.
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By GlobalData
