Middle Eastern franchise partner Alshaya is looking to build its UK presence by acquiring collapsed womenswear chain Fenn Wright Manson out of administration.
It is understood that Alshaya, which secured its first retail presence in the UK when it bought La Senza via a pre-pack administration in January, is one of the pack trying to snap up Fenn Wright Manson which appointed Zolfo Cooper as administrator early this month.
Final bids for Fenn Wright Manson, which has 17 stand alone stores and concessions in John Lewis and House of Fraser, were submitted yesterday. A deal is likely to be complete in the next few days.
Franchise giant Alshaya operates stores including Next, Debenhams, H&M and Mothercare across the Middle East and eastern Europe.
Hobbs and Phase Eight are thought to be still in the running to buy the retailer, while private equity firm Sun European is also amongst the throng. Sun snapped up fashion group Irisa, formerly known as Alexon, and Jacques Vert last year.
Fenn Wright Manson is understood to be an attractive target because of its strong concession business. It is thought the retailer could be sold for over £10m.
Zolfo Cooper declined to comment.
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