Private equity groups are reportedly interested in buying up fashion brands Warehouse, Oasis and Coast, also known as the Aurora Fashion Group.
The group recently appointed PwC to conduct a "strategic review" for the business, and is thought to be seeking a sale worth £100m.
It is thought the holding company Aurora has received interest from turnaround specialists Alteri Investors.
The fashion chains were previously owned by Baugur, an Icelandic group that collapsed at the same time as its bank Kaupthing during the financial crisis. The chain stores were then under the stewardship of the bank's administrators.
Alteri Investors declined to comment.