NEW YORK (Reuters) - Private equity firm KKR & Co LP (NYS:KKR) has withdrawn from the bidding process for Jones Group Inc (NYS:JNY), two people familiar with the matter said on Thursday, raising questions over the prospects of the auction for the fashion and footwear company.
KKR, which had teamed up with Sycamore Partners LLC, another buyout firm, was the only party vying to buy the whole company, the people said, asking not to be identified because details of the sale process are confidential.
It was not clear whether Sycamore Partners would remain in the sale process. Other bidders continued to vie for parts of Jones Group and the company requested new offers from prospective bidders earlier this week, the people said.
KKR declined to comment while representatives of Jones Group and Sycamore did not immediately respond to requests for comment.
(Reporting by Olivia Oran and Greg Roumeliotis in New York; Editing by Gary Hill)
- Private Equity & Hedge Funds