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3i reviews Agent Provocateur offers as bank circles

It is understood that at least 12 offers have been made for lingerie retailer Agent Provocateur, but some are below the £30m owners 3i are hoping for.

The private equity firm put Agent Provocateur up for sale earlier this month, after a period of disappointing trading. It is seeking an offer in excess of Agent Provocateur’s £30m debt.

Sources told City Am some of the offers meet this threshold. The pool of potential buyers is believed to include strategic bidders as well as turnaround funds.

Sources told the Sunday Times that Agent Provocateur could slip into the hands of its lender, Barclays, unless it secures a last-ditch rescue bid.

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