Retail tycoon Mike Ashley has emerged as a rival to ScS in the battle for control of furniture retailer

Ashley has put forward a multi-million-pound bid for the sofa specialist after it went up for sale last month, according to Sky News.

ScS confirmed they are in discussions regarding the potential acquisition of the business and reportedly are the only other remaining bidder.

Ashley’s interest is reported to stem from the fact operates concessions in several House of Fraser stores – the department store chain Ashley’s Sports Direct acquired for £90m last year.

Alongside House of Fraser, Ashley has added a number of troubled retailers to his high street empire over the past few years. He has snapped up Agent Provocateur and Evans Cycles, and built sizeable stakes in Debenhams, Game and French Connection.

He is also rumoured to be interested in striking deals to rescue HMV and Patisserie Valerie out of administration.

KPMG, which is dealing with the sale of, is expected to finalise a deal within days.

LGT European Capital, which took control of the online retailer last year, is looking to offload the business in a quick-fire sale.

In its accounts for the year to February 28 2018, slumped to an operating loss of £33.6m – more than double that of the prior year – on sales of £28.8m.