Is Matchesfashion set to be the latest business snapped up by an investment fund? Rumours have been swirling around the luxury e-tailer for months, but now it seems it really in in talks with investors about a takeover.
It may not come as a huge surprise but reclusive billionaires David and Frederick Barclay have put their plans to sell the giant Shop Direct e-tail business on hold as analysts said the £3 billion price tag was too high.
Apax Partners seems to be the frontrunner to buy fashion and GM e-tail giant Shop Direct, yet it’s still not a one-horse race with US private equity firm Hellman and Friedman also reported to have entered the fray.
The auction of e-tail giant Shop Direct has attracted less interest than had been hoped, according to reports, but some offers are on the table with Apax Partners believed to be one of three groups to have bid.
The mall chain will close 400 stores nationwide, making it the latest in a slew of major retailers to face widespread closures. The teen store has been unable to outdo competitors H&M and Zara and may face bankruptcy.