The administrator for Phones 4u is in talks to sell off parts of its business to EE and Vodafone, according to reports.
The two mobile operators recently withdrew their business in Phones 4u, causing the high street mobile retailer to collapse into administration.
The Financial Times has reported that the same two companies are now in talks with administrator PricewaterhouseCoopers to buy parts of the Phones 4u business.
Other parties may also be interested in acquiring parts of the company, offering hope to the 5,596 staff currently at risk of losing their jobs.
Salvation could also be sought from Dixons Carphone, who are planning to offer jobs to Phones 4u workers. The company said; "with regards to our Phones 4u shop-in-shop colleagues we hope to help them secure new jobs with us and will be opening up discussions with the administrators to agree what we can do."
Vodafone and EE had considered a joint takeover of the company earlier this year, but said they "quickly dismissed" their idea after being advised against it.
Yesterday Phones 4u's owner BC Partners accused EE and Vodafone of going back on their word by opting not to renew their contract with the retailer.
Vodafone has acted in exactly the opposite way to what they had consistently indicated to the management of Phones 4u over more than six months.Their behaviour appears to have been designed to inflict the maximum damage to their partner of 15 years, giving Phones 4u no time to develop commercial alternatives.
Their behaviour appears to have been designed to inflict the maximum damage to their partner of 15 years, giving Phones 4u no time to develop commercial alternatives.