Young fashion retailer D2 is poised to be bought back by its management after falling into administration at the end of the year.
As Drapers went to press, the deadline had passed for offers of interest in the retailer, which became a post-Christmas casualty following difficult trading conditions.
The management team including managing director Alan Kinney, who with co-founder Jim McGonigle bought the business from entrepreneur Sir Tom Hunter in January 2008, is thought to be the frontrunner to buy back part of the firm.
Administrator BDO said it had received several expressions of interest, several of which were understood to be from trade buyers.
Hunter is the landlord for D2’s HQ and warehouse in Dundonald, Scotland, and is understood to have been asked to help a rescue deal by reducing the costs of the premises.
D2 has 76 stores in the UK and has already closed two of its three stores in the Republic of Ireland with the loss of 39 jobs. 22 redundancies have been made at its head office.