Bidders told sales up 18%
New Look managed sales of more than£1 billion and profits of£180 million in the year to March, according to reports today.
Today's Times said that bidders for the business have been sent information showing that sales rose more than 18 per cent in the year, despite tough trading conditions during much of 2006.
New Look has been put up for sale by its private equity owners Apax and Permira, and is expected to fetch about£2 billion. At least six private equity houses have expressed an interest and first round bids are due in two weeks. The retailer was taken private by its present owners in a£700 million deal in 2004.
Last night, New Look was the latest high street fashion retailer to launch a range of celebrity clothing. Lily Allen's Lily Loves range was launched by the singer at its Oxford Street store.
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