Tory chairman Ben Elliot has reportedly tabled plans to sell his Quintessentially, as several business eye the luxury concierge business for takeover.
While advisers have not yet been appointed, Quintessentially has hopes of securing a deal as soon as possible, the Telegraph reported, after the company hit rocky waters last year as lockdown restrictions hit sales.
Auditor BDO had to be called in, after the business, which offers services from holidays, private parties and personal shopping, was met with a homebound clientele.
Though Quintessentially snagged a deal to amend the terms of loans from World Fuel Services in August, which has reportedly given the firm some breathing room.
The move also follows the resignation of co-founder Paul Drummond, who stepped down this month due to personal reasons.
Directors are looking to sell off the company before it issues its latest financial statements, a source said. However, Quintessentially is yet to file accounts for the year to April 2020, eight months later than anticipated.
The business published its financial statements for the previous year some 15 months late.