Dr Martens is being circled by various firms looking to snap up the embattled footwear retailer.
An anonymous hedge fund investor told This is Money: “We met with management and there’s something in the offing.”
Potential buyers could include Louis Vuitton-owner LVMH as well as VF Corporation in the US, the company behind Timberland, Vans and the North Face.
Last week, Dr Martens raised its fifth profit warning in three years and revealed its CEO Kenny Wilson would be stepping down from his role as the business flagged a “challenging” year ahead.
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Dr Martens floated in January 2021 with a valuation of £3.7bn, but since then the British bootmaker has struggled, with its shares plunging 70% over the past two years.
Earlier this month, the retailer filed a lawsuit against Temu, accusing the Chinese marketplace of trademark infringement.
The retailer alleged that Temu engaged in paid advertising with Google to promote boots sold on its platform, targeting keywords like “Dr Martens” and “Airwair” in specific markets.
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