Change Capital, the private equity firm run by former Marks & Spencer boss Roger Holmes, is among those bidding for Bathstore.
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Change is understood to have made an offer for Bathstore to Wolseley, the building materials business that owns the 160-store retailer.
Four private equity firms are thought to have submitted bids for Bathstore by last Wednesday’s deadline, the Daily Telegraph reported. LDC, Electra and Morgan Stanley’s private equity division are also said to be in the running.
There has been speculation that Patrick Riley, one of the original founders of Bathstore who no longer works there, may participate in a private equity bid.