Shop Direct has received indicative offers from former New Look owner Apax Partners as interest in investment across the board fades, according to Sky News.
Apax Partners sold New Look in 2015 following a stint as joint owner of the fashion retailer.
The investment company is understood to have issued an indicative offer alongside BC Partners, former investor in Phones 4U.
An indicative or non-binding offer sees the potential buyer express an interest in the company, committing to good faith negotiations, while maintaining confidentiality of the deals details.
READ MORE: Buyers walk away from Shop Direct bid
Shop Direct‘s price tag is currently thought to be £3 billion.
Furthermore, one other company is thought to have made a bid for the online fashion group owned by the reclusive Barclay Brothers.
Bidders are reportedly sparse as concerns have been raised over Shop Direct‘s reliance on its consumer credit arm which analysts believe will succumb to increasing regulation.
This has already driven away a group of private equity firms including CVC Capital partners and Advent International who decided not to issue a bid for the company despite initially expressing interest.