The direct TV and electrical goods rental company had been up for sale for some time, but in its end-of-year report the retailer's chief executive Alan White (pictured) said that a sale was imminent. The buyer has not been named.
In the year to February 26, Teleview posted sales of£5.7 million and a loss before interest and tax of£700,000. Net assets were approximately£7.3 million.
N Brown said the sale would be used to reduce debt.