Jigsaw is on the hunt for a new owner as the high street chain grapples with an increasingly turbulent fashion market.
The retailer’s controlling shareholder John Robinson, who founded the firm in 1970, has appointed KPMG to field approaches from potential buyers or investors.
KPMG are exploring a range of options for Jigsaw’s future, including the sale of a majority or minority stake.
Sources close to the situation told Retail Week that Jigsaw is aiming to find new owners before Christmas.
A Jigsaw spokeswoman confirmed that discussions with interested parties have taken place, but said no official sales process has been activated.
“There have been a number of approaches directly to Jigsaw, around the purchase of a minority or majority stake. No sale process has been activated but we continue to have conversations with interested parties,” she said.
Jigsaw has more than 80 standalone stores, as well as concessions in department stores such as John Lewis and Harvey Nichols.
It also has an international presence, with concessions in Bloomingdales in the US and stores in Australia and the Netherlands.
In 2016, Jigsaw reported profits of £6.2m on sales of £95m.
Earlier this year it paid out £493,000 to its staff as part of a company-wide incentive plan.
Read more: How Peter Ruis pieced together Jigsaw