Fashion retailer Matalan has revealed it hopes to conclude a takeover deal by the end of January.
The Liverpool-headquartered company said it has "received bids from a number of interested parties" since it put itself up for sale in September.
In a statement, the business said it is "currently assessing all the bids and constructive discussions are continuing with interested parties and their advisers".
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Matalan added that it will issue a further update in the coming weeks.
It said: "The stable and sustainable balance sheet will put the company in a position of financial strength, allowing it to execute on its business plan and deliver its growth strategy.
"The outcome of the sales process will not impact the continued operations of the business or our colleagues, suppliers or other partners."
In September it was announced that Matalan founder had stepped down as chairman to make a bid for the retail chain.
John Hargreaves founded the company in 1985 and only returned as chairman in July after executive chair Steve Johnson stepped down.
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