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.