Goldman Sachs, which advised on the sale of clothing retailer Eddie Bauer to two private equity firms yesterday, is running an auction for another retailer which could fetch up to $2bn (€1.56bn).

Goldman is advising Timberland, the US boot maker and clothing company, on an auction that could value the company at up to $2bn according to a report in the Wall Street Journal. The sale process is still in its early stages, the Journal said.