Next is poised to buy FatFace in a £100m deal.
The acquisition of the clothing retailer, three years after FatFace was taken over by its lenders, would hand Next control of its brand and more than 200 stores, with more than 180 stores in the UK and 20 in the US.
The FTSE 100-listed Next has outperformed the market since the pandemic and purchased brands such as Reiss, Cath Kidston and Made.com.