The Peacock Group is reported to be exploring options for Bonmarché, which could lead to a sale of the older womenswear chain.
According to a report in The Sunday Telegraph, the privately-owned Peacock Group, which also owns the Peacocks chain, has appointed corporate firm DC Advisory Partners to look at options for Bonmarché.
The potential price-tag attached to Bonmarché is unclear.
The Peacock Group bought the Bonmarché business, which has 380 stores, in 2002 for more than £50m.
In January the group reported that group sales had risen from £679.1m to £720.9m for the year to April 3, 2010. EBITDA rose from £64m to £77.2m for the same period.
Last month The Peacock Group appointed headhunter Heidrick & Struggles to find a chairman, prompting speculation that an IPO may be on the cards.