Bikes etailer Wiggle has attracted several private equity firms and trade buyers as the retailer mulls a sale or float.

Rothschild, which is advising Wiggle on its strategic options, is running a dual track process which allows the etailer to consider both a sale or float simultaneously.

A source close to the business said that interest from private equity and trade buyers is running into the “high single digits”.

The source said: “There is an enthusiasm to back a UK winner, in an environment where they have been few and far between.”

The source added that the etailer is expected to be valued “in excess of £200m” when any deal is done.

The figure contrasts with the sum paid last month for entertainment pureplay etailer  Observers were surprised when it was sold to Japanese investor Rakuten for £25m – the business had previously been estimated to be worth £400m.

Wiggle held a beauty parade last week as six investment banks pitched to advise its potential float.

The source close to Wiggle said that a deal with a private equity or trade buyer could be done in the next few months, but if the etailer chose to go down to the IPO route, it would not be until next year. “The market is completely shut,” said the source.

Chief executive Humphrey Cobbold joined Wiggle in 2009 and has helped steer growing sales and profits at the company. He brought former Asda boss Andy Bond on board last year, bolstering the board.