Phase Eight’s private equity owner Towerbrook is considering putting the fashion retailer up for sale.

Towerbrook, which owns around 60% of Phase Eight, is understood to be exploring a sale of the retailer and could raise between £200m and £250m, according to the Telegraph.

Towerbrook has not hired an adviser to run an auction yet, however, banks are already understood to be lining up for it.

Phase Eight, which operates 407 stores and concessions in the UK and overseas, reported a 16% EBITDA jump to £24m in the year to February 1, while sales surged 15% to £140.7m.

It is currently driving international expansion and is considering expanding in the US and Asia.