Private equity partner Apax is understood to have withdrawn from the auction to buy US-based accessories chain Clai...
Private equity partner Apax is understood to have withdrawn from the auction to buy US-based accessories chain Claire's Stores.
The UK company, which owns fashion retailer New Look, was tipped as favourite to win the auction after rival private equity firms - including Blackstone and Texas Pacific - withdrew their interest last month.
It is thought that Apax has not completely withdrawn and could renew its interest if the price falls bellow the present US$3 billion (£1.56 billion) price tag. Kohlberg Kravis Roberts and Apollo Management are understood to still be in the running.
Claire's Stores has around 3,300 shops globally. Its UK subsidiary will open its 500th store in Belgium next month.
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