Ted Baker has announced that a second prospective candidate has decided to walk away from the process to buy the fashion retailer.
In an update lodged with the London Stock Exchange, Ted Baker has disclosed that its ‘preferred counterparty’ will no longer be going ahead with an offer.
Authentic Brands Group (ABG), the purported frontrunner which owns brands including Reebok, had previously indicated it was willing to pay 150p-per-share and up to £300 million for the fashion retailer before this latest reversal.
ABG follows US private equity firm Sycamore, becoming the second potential bidder to step away from a deal.
The latest blow has caused Ted Baker’s shares to plummet by up to 23 per cent.
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Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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