A buyer is close to acquiring gift and toy retailer Hawkins Bazaar and its wholesale parent company Tobar Group, it is understood.

Another three Hawkins Bazaar stores, including the Westfield Stratford City site, closed yesterday. Eight stores now remain of the original 65-store portfolio.

Zolfo Cooper, administrator to the retailer, is said to be “confident” a deal will be done by the end of the week, as the buyer takes on the remaining Hawkins Bazaar retail estate, its website and its wholesale business as a single entity.

Tobar Group fell into administration on December 30 and since then has been searching for a buyer as it worked through a shop closure programme.