John Kinnaird, the former owner of Dolcis, is understood to be among the parties bidding for fashion footwear chain Faith.
Kinnaird, who bought Dolcis in December 2006 before it went into administration earlier this year, is understood to have teamed up with investment firm Agilo to launch a bid for Faith, which was put on the market last month by its bankers Barclays.
Kinnaird, who also owns branded menswear business Envy, is said to want to combine Faith with Envy and young fashion brand Chilli Red to gain economies of scale across the businesses. He is also thought to have plans to make substantial savings by bringing all three businesses together into one head office.
Faith's management team, chairman Steve Cotter and managing director Steve Swaby are also thought to be still in the process of bidding for the business. Cotter and Swaby are understood to have garnered interest from up to four private equity backers.
Can John Kinnaird revive Faith? Vote in our poll on the right.
To read the Drapers analysis on Faith and its future click here.