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Reiss sale attracts attention of US investors

The sale of a stake in high street chain Reiss has attracted the attention of former Poundland owner Warburg Pincus.

Reiss autumn 15

The US investment firm is thought to be one of three final bidders vying for a stake in the fashion business, which has 130 stores, 80 of which are in the UK, according to Sky News.

Warburg Pincus reportedly joins Dr Martens’ private equity owner Permira and another private equity group in the race to snap up part of the business from David Reiss, its founder and controlling shareholder.

Reiss appointed investment bank Morgan Stanley to review options for growing the chain internationally in July 2015, a move that would see outside investors brought into the firm for the first time. It is not yet known how large a stake in the business could be sold.

A decision about a preferred bidder is expected to be made as soon as this month, with a deal expected to be signed later this year.

Reiss has been contacted by Drapers for comment.

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