Republic founders Tim Whitworth and Carl Brewins are understood eyeing up the young fashion chain with a view to buying it back.
Drapers has learned that Whitworth and Brewins are considering teaming up with wholesale and distribution company Whispering Smith - previously known as Rajan Imports – to bring Republic out of administration.
It is understood that Whispering Smith, which supplied Republic, has “thousands of pounds worth” of stock in warehouses that could be put directly into stores.
Retail Week previously reported that Brewins was understood to be considering buying back the business, which he left last year.
There has also been speculation that young fashion retailer Blue Inc is contemplating a move to buy the young fashion retailer, although reports have suggested that it will operate Republic as a 50-store chain.
Another potential bidder is an unidentified US retailer, who is thought to be eyeing around 40 Republic stores.
While private equity firms including Better Capital and Apollo are also thought to be interested in snapping up the 121-store retailer.
Republic collapsed into administration yesterday. Ernst & Young has already axed 150 head office staff. Republic employs 2,500 staff.