Kaupthing, the Icelandic bank, is reviewing its options after it received unsolicited offers for the fashion retailer, according to Sky News.

The fashion retailer employs around 1,700 staff and has 57 shops and a number of concessions in the UK. It made pre-tax losses of £9.5m on £161.9m of sales in the 52 weeks to February 2018.

Any sale of Karen Millen would include Coast, the fashion label it bought out of administration last year. Kaupthing also own brands Oasis and Warehouse.