The retailer, worth £180m before the start of trading, saw its stock climb by as much as 21% as Sycamore Partners confirmed it was weighing an offer.
It added:"The board is confident in the company's independent prospects and would evaluate any offer for the company against the strong shareholder value creation that it believes can be delivered as a standalone company."amid claims of inappropriate behaviour towards female colleagues.Founder Ray Kelvin left in 2019 amid claims of inappropriate behaviour towards female colleagues
Since then it has been hit by profit warnings, accounting mishaps and was forced to address the COVID-19 pandemic from a position of relative financial weakness.Like other fashion retailers, it is now wrestling with the challenges posed by soaring inflation, higher energy costs and waning consumer confidence.
Nevertheless, the business has begun to show signs of a recovery, with a recent trading update disclosing that sales rose by 35% during the 12 weeks to January 29 compared with the same period a year earlier.
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