Tanner Krolle, the British leather goods retailer, is to become the latest luxury fashion group to be sold to a private equity buyer. The deal, which may be completed this week, would be the fourth attempted buy-out of an upmarket UK clothing group this month.

Shoe maker Jimmy Choo was sold for £101m (€143m) by Hicks, Muse, Tate & Furst to Phoenix Equity Partners and UK-listed 3i acquired Hobbs, the women's fashion retailer, from Barclays Private Equity for £111m in a secondary buy-out. Shoe chain LK Bennett is also looking for a private equity investor.