Austin Reed’s decision to rebuff a 131p-a-share approach from Dawnay Day, the investment company that already owns a 29.9 per cent stake, has failed to dampen bid speculation surrounding the retailer.
One name in the frame yesterday as a possible suitor was Harold Tillman, the boss of the rival clothing label Jaeger. Mr Tillman is said to be seriously considering launching a rival offer, having already held talks with both the Austin Reed board and Dawnay Day.
The Jaeger owner, whose flagship store on London’s Regent Street sits opposite Austin Reed’s main store, previously discussed launching a joint bid with Nigel Robertson, the grandson of the man who founded the shop 106 years ago. Mr Tillman is the latest in a long list of suitors in recent years. They include: the Joe Bloggs jean boss Shami Ahmed; Jonathan Rowland, the property developer; Richard Thompson, the former Queens Park Rangers Football Club chairman; and Anton Bilton, the property millionaire. The shares will open today at 126p.