San Francisco-based private equity company Hellman & Friedman has become the latest to table an offer for ecommerce giant Shop Direct.
Hellman & Friedman is reported to have placed a £2.5bn offer for the company, The Sunday Times reports. The former owners of New Look, Apax Partners, are currently thought to be the front runners in the sale.
Shop Direct was put on the market by its owners, the Barclay Brothers, for £3bn earlier this year. However, city analysts are reported to have said that the asking price for the company, which encompasses Very and Littlewoods, is unlikely to be reached, as a result of declining customer demand and high interest rates charged on consumer purchases.
Shop Direct declined to comment on the reports.