The owner of UK clothing retailer The Original Factory Shop has denied reports that the chain is up for sale.

It follows a report by The Daily Telegraph that the bargain chain would be sold on by private equity owners Duke Street with a GBP200m (US$286.4m) price tag.

However, a spokesperson for Duke Street told just-style: “Following media speculation regarding a sale of The Original Factory Shop, Duke Street would like to state that it is not running a sale process for the company.

“There is considerable potential for growth of the business and Duke Street will continue to work with the management to maximise these opportunities.”

He also denied that KPMG had been appointed as an advisor for the sale.