New York-based Authentic Brands has emerged as the frontrunner to buy quirky British fashion brand Ted Baker (TED) and is reportedly being advised by Bank of America on a £300 million takeover deal.

Sky News reports that Authentic Brands, which owns Brooks Brothers, Forever21 and Reebok, is willing to pay more than 150p for loss-making Ted Baker, which announced (26 May 2022) 20% sales growth for the first quarter to 22 April 2022 supported by a steady return to the office and social events. Talks between Authentic Brands and Ted Baker are not exclusive but it is thought a formal deal could be signed within weeks.

Elsewhere in the retail sector, deal-hungry Boohoo's (BOO:AIM)  rumoured pre-pack rescue deal for online fast fashion rival Missguided didn't materialise as the latter entered administration.

Boohoo, which has seen growth dry-up and costs surge, may still be a bidder for Missguided's assets and could face competition from retailers including JD Sports Fashion (JD.), Frasers (FRAS), Asda and Chinese ultra-fast fashion retailer Shein.

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