The parent company of M and M Direct has hired financial advisers as it looks to sell off the clothing etailer in an auction process.
TA Associates, the private equity group that bought M and M in 2007, has appointed bankers from Canaccord Genuity to handle the sale. It is expected to attract “significant interest”.
Sky News said TA was planning to auction the company off, for more than £80m. The Guardian said it was also considering an IPO, but that either move would value the company at £150m.
M and M stocks more than 300 brands such as Diesel, New Balance and Nike, and claims to attract nearly one million visitors each week.
A TA spokesman declined to comment.