The bid comes after a $6.75-per-share offer from Sears Holding Corp. late last year that was apparently marred by the two parties failing to sign a confidentiality agreement. An original agreement was signed with Catterton on Nov. 8, valued at $267 million.

Restoration will take competing proposals from other entities, including Sears, until Feb. 28. If the Catterton-Restoration deal goes through, the parties expect to close the acquisition by the end of the first quarter.

Greenwich, CT-based Catterton Partners is a $2-billion private-equity fund. Retailers in which it has invested in the past include Baja Fresh Mexican Grill, Build-A-Bear Workshop and P.F. Chang's China Bistro.