Tuesday, July 3, 2007

The collapse of the auction comes amid a tightening in the debt markets after concerns about the American credit market and apparently worsening conditions on the high street

New Look auction collapses as bidders balk at £1.8bn price tag

The auction of New Look, the fashion chain, collapsed last night after bidders refused to meet a £1.8 billion reserve price set by its private equity owners Apax and Permira. Sources said that no formal bids had been filed after interested parties, including BC Partners, the Dubai-based retailer Landmark Group, which already has a small stake in New Look, and a consortium of Warburg Pincus and TPG said that they would not pay more than about £1.7 billion for New Look. The collapse of the auction comes amid a tightening in the debt markets after concerns about the American credit market and apparently worsening conditions on the high street.

Posted by chris @ 12:53 AM (293 views)
Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>