Ted Baker has received “a number” of proposals from potential bidders as the battle to take the fashion chain private intensifies.

Ted Baker sign USA

The retailer, which launched a formal sale process earlier this month, said it would now invite “a focused selection of such parties to enter into a due diligence process”.

However, Ted Baker cautioned that “there can be no certainty” that the process would result in any formal offers being made.

Ted Baker put itself up for sale at the start of April after receiving unsolicited bids from private equity firm Sycamore Partners and an unnamed third party.

The retailer had received two non-binding proposals from Sycamore, both of which were rejected. The second proposal valued Ted Baker at £253.8m.

Ted Baker received a third “improved proposal” from Sycamore, as well as a bid from a third party.

The retailer’s board said it launched the formal sale process in order to “establish whether there is a bidder prepared to offer a value that the board considers attractive relative to the standalone prospects of Ted Baker as a listed company”.

Ted Baker’s share price has swelled around a fifth to 150p over the past month, taking its market capitalisation to £280m. Its share price had slumped to lows of 80p during February.


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