Dubai investment firm Landmark Group has approached Guy Hands’s Terra Firma and HBOS Integrated Finance for backing to mount a last-minute bid for New Look. Sunday Times

Micky Jagtiani, the head of Landmark, is seeking £500m to finance a planned £1.8bn bid for the retailer.

In meetings over the past 10 days, Jagtiani has explained his vision for expanding New Look across the Middle East and India.

Merrill Lynch, which is handling the sale, announced another round of bids after failing to attract offers close enough to the £2bn price tag. Frontrunners Texas Pacific and Warburg Pincus are believed to have offered about £1.7bn.