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Former New Look owner in play for Shop Direct

Apax Partners, the private equity firm that jointly owned New Look before selling it to South African firm Brait in 2015, has reportedly tabled a bid for Shop Direct.

At least one other party is understood to be in the running to buy Shop Direct, which operates the Very, Very Exclusive and Littlewoods fascias. However, a number of private equity firms have decided against making an offer – put off by Shop Direct’s price tag and concerns about consumer confidence, sources told Sky News.

A £3bn price tag has been attached to the company, which is owned by the Barclay brothers. They began exploring a potential sale in April.

Apax Partners declined to comment. 

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