Shirt retailer TM Lewin has appointed KPMG to oversee the sale of the business, which could value the company at £100m.
Following talks last month, the 155 year old shirtmaker has asked corporate financiers at KPMG to find a buyer for the business as it seeks new funds to accelerate its international expansion according to Sky News.
As reported by Drapers in May, the shirt retailer is in its second year of a five-year international plan, having already launched in Australia, the Czech Republic, Ghana, Indonesia, Malaysia and Singapore.
The company has extended its retail footprint to 95 stores in the UK and 42 overseas.
International director Mark Dunhill said that TM Lewin is planning to launch in India, Nigeria and the Philippines by the end of this year as part of an ambitious international strategy.
Private equity groups and other retailers are expected to consider bids for TM Lewin, whose sale comes amid a spate of casualties on the high street, with six retailers falling into administration in recent weeks including Nicole Farhi, Ark and Coggles.