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True Religion considers sale

Denim brand True Religion is conducting a review of the business after receiving interest from potential buyers.

The outcome of the review could mean the brand is sold off according to reports and the company has been hit by falling sales in recent months.

On Wednesday shares in the company rose by 28% it $26.88 (£16.78), which would value the company at around $683m (£426m).

According to the Wall Street Journal the board at True Religion has formed a special committee to explore and evaluate potential strategic alternatives. No timeline for the completion of the review has been put into place.

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