Icelandic retail group Baugur was planning to buy menswear chain Moss Bros at the end of the month, despite approaches from other suitors to buy the Icelandic group's 29% stake.
Chairman Jón sgeir Jóhannesson said due diligence was continuing on the menswear chain and he was "in the mood" to buy the company rather than sell the 28.75% stake he controls to another investor.
"People have called us to ask about the possibility we will sell," he said. But he added that it would only happen "for a good price". Baugur has submitted an indicative offer of 42p a share, or £40m, for Moss Bros.
Baugur predicted that up to 15% of its sales will come from online in the next two years, at the World Retail Congress yesterday.
Executive chairman told a private-equity themed event at the WRC: "We strongly believe it’s going to be a big part of our business quite soon".
He revealed that young fashion chain Warehouse was already making 45% of its sales online and that internet sales at the rest of the group's fashion retail interests, which include Karen Millen and House of Fraser, was increasing by 3-4%.
Separately, Moss Bros said that chairman Keith Hamill will defer his retirement until Baugur completes due diligence. He was due to step down yesterday.