Ted Baker has kicked off a formal sale process for the fashion brand after rejecting a series of bids from the US private equity group Sycamore Partners and others.
The company said it had received more than one unsolicited offer from third parties in addition to three bids from Sycamore, a group that previously owned the British shoe shop chains Kurt Geiger and Nine West and has recently been linked to a potential bid for the health and beauty chain Boots.
The bidders have approached amid early signs of a turnaround, with losses narrowing more than 70% to £25m in the six months to 14 August last year as sales bounced back nearly 18% to £199m. But the company is currently without a chair after the death of the incumbent, John Barton, in December.
Read more: The Guardian
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