Fortress Investment Group has emerged as the frontrunner to snap up the 200-store Majestic business following weeks of talks.

The bidding war for the retailer was sparked after its parent company revealed plans to radically shift its strategy and focus solely on its Naked Wines ecommerce division.

Fortress has moved to the front of the queue ahead of a string of other interested parties including Waterstones owner Elliot Advisors and OpCapita, which previously owned Comet, Sky News reports.