Dutch retail group Maxeda is conducting a strategic review of its fashion division that may result in a sale of the business.

Maxeda, which comprises department stores Bijenkorf and Vroom & Dreesmann as well as fashion specialists Hunkemöller and M&S Mode, expects the review by JP Morgan and ING to be completed before the end of the year.

Chief executive Tony DeNunzio said: “All our fashion formats have strong market positions and have shown robust financial performance in the downturn, reflecting their long- term growth prospects.”