Ted Baker says preferred suitor will not make an offer for the business
Fashion retailer Ted Baker has said its preferred suitor has decided against making an offer for the business.
Last month, the company announced that it had selected a “preferred counterparty” to take forward into a process of due diligence.
However, Ted Baker said today that it was informed last night that the suitor would not be proceeding with an offer and that the decision was not linked to any due diligence review.
There had been speculation that Reebok owner Authentic Brands was interested in buying business.
Meanwhile, private equity firm Sycamore pulled out the race to buy the retailer last month.
Ted Baker also announced in May that it had received a number of other non-binding proposals for the business and it will now be considering whether to proceed with any of those options.
The retailer added: “There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made. Further announcements regarding the formal sale process will be made when appropriate.”
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