Ted Baker enters next stage of sale process with a number of bidders

// Ted Baker has entered due diligence with selected parties in the next stage of its sale process

// The retailer formally put itself up for sale after receiving unsolicited approaches by private equity firm Sycamore Partners

Ted Baker has entered the next stage of its sale process and has invited a “focused selection” of interested parties to enter into due diligence.

The retailer will provide the potential bidders with business information during the next stage of negotiations.

Ted Baker formally put itself up for sale earlier this month after receiving unsolicited bids from US private equity firm Sycamore, which previously owner Kurt Geiger and Nine West, and an unnamed third party.

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Sycamore is understood to have tabled a bid valuing Ted Baker at just over £250 million, which the fashion retailer turned down as it believed it significantly undervalued the business.

The private equity firm has formally joined the sale process and is understood to have put forward an improved offer.

It emerged this week that US giant Authentic Brands Group (ABG), which owns Reebok, Juicy Couture and Forever 21, is exploring a bid for Ted Baker.

The fashion retailer has hired advisers Evercore and Blackdown Partners to manage the sale process. Ted Baker today emphasised that “there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made”.

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