The owners of Dr Martens have announced they are hoping the UK-based footwear brand will attract takeover bids of up to £200 million ($313.7 million).

The Griggs family put the company up for sale earlier this year and second-round bids are due this week. Private equity firm Electra Partners is among the prospective acquisitors.

The company reported underlying profits of £22 million for the year to March, driven by growing sales in more than 60 countries. However, sales have dropped in recent weeks, which may discourage high bids.

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