Ghost is understood to have attracted a significant amount of interest from potential new backers granting it a 10-day reprieve from administration, according to sources close to its current shareholders.
Ghost, which is co-owned by retail entrepreneur Kevin Stanford and investment fund Kcaj, posted a notice of intent to file for administration on October 3. At this point the Ghost management team were given 10 working days to find a buyer.
However the Ghost management team are understood to have been given a further 10 working days to attempt to secure a buyer for the business. The 10 day extension was granted last Thursday, October 16, after a "significant number" of potential buyers came forward.
One source said that the time period could be extended further if necessary and added: "There has been a significant amount of interest."
There has been uncertainty surrounding the future Ghost since the start of the month, after a major investor pulled the plug on funding for the business, as exclusively revealed by Drapers Online.
Ghost made loss of almost £2 million last year.
Meanwhile Kcaj's other UK retail businesses, which include Cruise and Jones Bootmaker, are unaffected by the difficulties at Ghost and Hardy Amies, another Kcaj-backed business which went into administration earlier this month.