Land of Leather Holdings, the UK retailer of leather sofas, said on December 9 that it had terminated talks with potential bidders.
IFR Buyouts Europe reported on Decemebr 4 that the retailer had received a number of unsolicited expressions of interest.
“The company now announces that early stage discussions suggested that there would be insufficient value to shareholders so talks with potential bidders have been terminated,” Land of Leather said in a statement.
Media reports had said that Hilco, the turnaround specialist, and private equity firm Sun European, had made approaches for Land of Leather.
Shares in the retailer closed on December 8 at 9.0 pence, valuing the business at £3m.