Urban Outfitters is rumoured to be eyeing Lorna Jane following reports private equity firms have withdrawn from the sale of the Brisbane-based activewear chain. Speculation began earlier this week that Urban Outfitters is participating in the auction for ownership of the chain and has progressed to the late second round. US-based sports retailers, Foot Locker and Under Armour, have also been named as potential trade buyers of the sports brand, which has an estimated value of between $400 to $500
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