Oasis, Coast and Warehouse owner Kaupthing Bank is back in talks to offload the businesses, Retail Week has learned.

Emerisque Brands – which entered into exclusive negotiations to acquire the fashion chains earlier this year only for talks to hit an impasse – is reviving its efforts to snap up the group.

However, sources close to the situation said discussions remained at an early stage and added there was “work to be done” in order to reach an agreement.

It comes less than two months after Kaupthing revealed it was shelving plans to sell the retailers, after claiming the market “does not currently recognise the value” of the businesses.

Kaupthing chief executive Paul Copley said at the time it was “under no pressure to sell the brands”.

Retail Week understands that remains the case, with Kaupthing only willing to sell if it can attract higher offers.

Oasis, Coast and Warehouse – which have 750 stores and employ more than 6,000 staff between them – previously attracted bid interest from the likes of Edinburgh Woollen Mill owner Philip Day, turnaround specialist Endless and private equity firm Alteri.

Kaupthing and PwC, which is advising the Icelandic bank over the sale process, both declined to comment.