UK's Ted Baker attracts 'number' of proposals from potential suitors

·1-min read
A Ted Baker store is seen on Regent Street, in London

(Reuters) - Ted Baker has received "a number" of proposals from potentially interested suitors, it said on Wednesday, after the fashion retailer put itself up for sale earlier this month.

The British firm, which has nearly 400 locations mostly in Europe, North America and the United Kingdom, launched a formal sale process after private equity firm Sycamore improved its takeover proposal and another third party showed interest in bidding for the company.

New York-based Sycamore had later said it would take part in the process.

Sky News reported this week that Reebok-owner Authentic Brands Group was exploring a bid for Ted Baker.

The retailer said on Wednesday it was inviting the unnamed parties to enter a due diligence process and would provide them with information on its business.

There is no certainty that an offer will be made, Ted Baker said, adding that it reserves the right to change or end the formal sale process or reject any approach.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu and Uttaresh.V)

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