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.
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”.