By Mark Kleinman, City Editor
The high street fashion retailer New Look has recruited bankers to work on a stock market listing that could value it at as much as £2bn.
Sky News has learnt that the company this week appointed JP Morgan, the Wall Street investment bank, to work on options for a flotation.
The hiring will fuel expectations that New Look's owners are actively preparing to take it public five years after it aborted an identical move amid challenging markets.
JP Morgan is working alongside Goldman Sachs, which is working with New Look to identify other potential investors for the company.
The chain, which trades from more than 800 stores in 21 countries around the world, is the UK's second-biggest women's value clothing and accessories retailer, according to Kantar Worldpanel, a research firm.
New Look has been owned since 2004 by Apax and Permira, two private equity firms, along with Tom Singh, its founder.
According to third-quarter financial results released last week, New Look saw like-for-like sales in the UK declined by 1%, a dip that it attributed to unseasonably warm weather.
The company is continuing to expand internationally, as well as attempting to grow its menswear business.
It now has nearly 20 shops in China although it retreated from Russia and Ukraine because of continuing instability in the two countries.
Anders Kristiansen, its chief executive, described New Look's trading performance as "robust...against a challenging backdrop".
"It was a record online sales performance over the Christmas period with all channels well-prepared for peaks in demand around Black Friday, Cyber Monday and Boxing Day, whilst our high street presence came into its own as we handled a surge in demand for our Click & Collect and Order in Store offerings," he said.
Mr Kristiansen said last week that New Look was a company "ready to float" although he added that a decision to do so rested with the chain's owners.
New Look's examination of a stock market listing makes it one of several well-known companies looking at such a move.
Sky News revealed earlier this week that Center Parcs had hired bankers to work on a flotation which would value it at about £2.5bn.
New Look declined to comment.
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