Clothing manufacturer Pacific Brands says it is considering a takeover approach from a private equity firm.

The owner of brands such as Bonds, King Gee and Sheridan has confirmed it has received an unsolicited approach from United States-based investment firm KKR regarding a possible acquisition of all of Pacific Brands’ issued capital.

The Pacific Brands board and its advisers are considering the offer, and preliminary discussions are being held with KKR, the company said in a statement on Tuesday.

“There is no certainty that these discussions will lead to any agreement being reached between the parties,” Pacific Brands said.

Pacific Brands posted a $132 million loss in the 2010/11 financial year, and has forecast a weaker performance for the current year amid challenging trading conditions.

Its shares last traded at 56 cents, down from $1.10 in February last year and a high of $3.35 in mid-2007.