close to finalising £800m sale

Matchesfashion is reportedly closing in on an £800 million sale to private equity firm Apax Partners, as the bidding war for the retailer continues.

According to Sky News, Matchesfashion could formalise a deal with Apax within days.

However, sources have said that the firm could still be trumped by a better offer.

READ MORE: prepared to receive £600m bids in coming weeks

The other private equity firms reportedly in the race to buy the luxury retailer,  which is owned and was founded by Tom and Ruth Chapman, include KKR, Permira and Bain Capital.

If a deal were to be successful, it would make the Chapmans some of the most successful entrepreneurs in the UK, with a windfall in excess of £300 million.

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