Scotland's largest independent furniture retailer, Reid Furniture, is understood to have hoisted the for sale sign.

According to industry insiders, the family-owned business has been offered to at least one trade manufacturer. Brewin Dolphin is said to be acting as advisor.

Reid's founder, respected furniture veteran Sam Reid, who started the chain in 1970, is thought to be mulling an exit.

A price tag of£15 million is being touted in private equity circles. Accounts are due at Companies House, with the most recent financials available for the retailer showing profits of£3 million on sales of£57 million in 2002.

But, the chain announced a£10 million expansion programme in 2003 and predicted sales would hit£100 million this year.

Reid's stores are spread across Scotland, Northern Ireland and Eire, and it has dipped its toe in English waters with a Carlisle store. It also claims to be the largest manufacturer of upholstered furniture in Scotland and Ireland.

Reid Furniture was unavailable for comment.

- Value fashion retailer Peacocks has recieved an indictive approach that could lead to a takeover. Evolution retail analyst Nick Bubb believes 3p to 5p per share would be a fair offer.

Peacocks boss Richard Kirk is thought to be behind the move with a VC-backed MBO.