Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Private equity bids in for Office

PAI Partners, the private equity firm behind Spanish fashion retail giant Cortefiel, and T J Hughes investor Silverfleet Capital, have thrown their hats in the ring to buy footwear retailer Office.

Investment bank Merrill Lynch and private equity firms Blackstone and TPG are also thought to have made first round bids for the 124-store chain.

Blackstone this week emerged as one of the bidders for value fashion group Peacocks, while TPG acquired young fashion chain Republic in June.

One of the bids for Office is said to be as high as £170m but sources have cast doubt on the figure.

Retail entrepreneur Tom Hunter, who owns Office via his private equity business West Coast Capital, put the chain up for sale in July for offers of between £150m and £200m.

Permira, the private equity giant which backs value chain New Look, also expressed an interest but is understood to have dropped out of the running.

Boutique advisory firm Hawkpoint and US boutique advisory business Financo are jointly running the sale process and second round bids are due by November 16.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.