3i receives more than a dozen offers for Agent Provocateur

London - More than 12 offers have been reportedly made for luxury lingerie retailer Agent Provocateur, although private equity owners 3i have yet to finalize a sale.

The offers for the struggling retailer come a few weeks after 3i put Agent Provocateur for sale following a poor December trading period. The owners are currently seeking an offer which is more than the retailer's 30 million pound debt, but a number of the offers made fall under this level said sources to City Am. On the other hand, some are said to more than the desired 30 million pounds. The selection of potential buyers is said to include strategic bidders as well as those not limited to turnaround funds.

Bids for Agent Provocateur which are said to be under consideration by 3i include an offer from Endless LLP, an offer from the owner of rival lingerie firm Boux Avenue, Theo Paphitis and and offer from Alteri Investors, with backing from Apollo Global Management. The board and shareholders of Agent Provocateur are set to make a decision later this week on the preferred offers. However, if no agreement is made with a potential buyer, Barclay's bank, the retailer's main lender is set to take over Agent Provocateur.

Photo: Agent Provocateur AW16 campaign by Mario Sorrenti