BUT, which has 107 shops in France, has performed poorly in recent years, but is showing signs of recovery. The chain's 6 per cent profit rise last year and its property portfolio are thought to have attracted the interest of potential buyers, who are likely to pay about£340 million for the business.
Investment bank Lazard is assessing offers on Kesa's behalf and the group board is likely to consider the merits of a sale of BUT on Friday. Kesa said in a statement: 'Kesa confirms that it has received a number of indications of interest to acquire the business. These are in the very early stages of being evaluated and there can be no certainty a transaction will result.'
Pali International analyst Nick Bubb said: 'We don't think BUT is a quality business, but it does have£200 million of freehold property, so the mooted valuation range of£340 million to£540 million makes sense.'
Kaupthing analyst Matthew McEachran said: 'BUT has never been seen as core in the way that Comet and Darty are, given its position in the increasingly competitive French furniture market, so a disposal is definitely possible.'