The British fashion chain Ted Baker stated that it has selected the preferred interested party to proceed with the sale process, after a series of revised proposals by interested parties, while the private equity company Sycamore, has left.
“The sales plan will now go through a process – which will take weeks, of a confirmatory due diligence,” he added.
Ted Baker clarified that there can be no certainty that there will be an offer, while adding that he could end the process if he wishes.
Sycamore had shown interest in buying Ted Baker last month, raising its bid several times before the retailer put itself up for sale after attracting interest from other parties.
Ted Baker has not given any excuse for Sycamore to withdraw the interest.
Source: Capital

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