FASHION chain New Look has stepped up plans for a possible stock market launch next year.

The company, owned by private equity firms Permira and Apax as well as founder Tom Singh, has held talks with several investment banks in recent days ahead of the potential £1.7bn.

The “beauty parade” of possible advisers is said to include Deutsche Bank, Goldman Sachs, Credit Suisse, Nomura and JP Morgan Cazenove, although New Look will not make a final decision on the move until after Christmas.

New Look, which has 612 stores in the UK and Ireland, was unavailable for comment.

Two years ago the group abandoned plans to float after a lukewarm response from investors, while a £2bn sale of the business also failed when the company was unable to agree a price with potential suitors.

Weymouth-based New Look was founded in 1969 by Mr Singh, and was taken private in 2004 by Apax and Permira for £700m, with Mr Singh retaining a 22% stake.

Since then its new owners have invested more than £400m in the business, although it currently has a £1.1bn debt.