Republic founder Carl Brewins has won support from Danish fashion giant Bestseller in his attempt to buy back the fashion retailer.
The Danish owner of Jack & Jones and Vero Moda is understood to be backing Brewins bid to revive the retailer he set up nearly 30 years ago, according to The Times.
Bestseller, which owns 28% of online fashion retailer Asos, turned over €2.4bn but despite its huge global presence it only has 45 Jack & Jones stores in the UK. The potential Republic acquisition would bolster its presence in the UK.
Brewins faces competition from young fashion group Blue Inc which is also vying to snap up 50 stores while Sports Direct is also understood to be eyeing Republic.
The 121-store retailer crashed into administration last Wednesday with Ernst & Young appointed as administrator. Ernst & Young said it was in talks with a number of parties “in double figures”.
No comments yet