Dr Martens for sale

Quintessential footwear brand Dr Martens is up for sale and first-round offers by equity groups

are thought to be at £120m.

The British brand, which was once synonymous with anti-conformists, but is now considered one of fashion's staple brands, hired advisers at the investment bank Rothschild earlier this year and first-round bids were due last week.

Private equity firm, Electra Partners, is thought to be among the suitors but others are known to be looking at the company. Dr Martins is currently managed by Max Griggs whose father acquired the brand in 1960 from its German owners.