The owner of Whistles and Phase Eight is in advanced talks to buy high street fashion retailer White Stuff.

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Sources have said that the deal could happen within the next few days

The Foschini Group (TFG) is reported to be looking at adding another UK fashion retailer to its portfolio as a deal could be struck within days.

The South Africa-based retailer is close to reaching a deal to buy White Stuff and invest in its future expansion, according to Sky News.

Sources told the publication that a deal could happen within days, which could deliver a windfall payout to the chain’s founders.

A number of parties had been reported to be interested in buying White Stuff in recent months, with the retailer estimated to be worth around £50m.

The fashion business was founded in 1985, and now has over 100 stores, employs over 1,200 people and has partnerships with M&S, John Lewis and Next. Foschini owns Hobbs and Damsel in a Dress.

Investment bank Rothschild was hired in February following the receipt of an “unsolicited” approach from a prospective buyer.

Both Foschini and White Stuff declined to comment to Sky News.

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