Ciro Citterio put up for sale with £10m price tag

Corporate financiers from Deloitte & Touche have been drafted in to seek offers for menswear retailer Ciro Citterio.

Deloitte & Touche Corporate Finance head of retail Chris Steed confirmed he has begun talking to a number of interested parties.

The retailer's store representation in big markets, its strength in formalwear and the opportunity to improve casualwear were among Ciro's attractions, Steed said.

He would not disclose a likely sale price. However, it is thought that the business, owned at present by overseas investors, will attract offers in the region of£10 million.