Retail industry sources say failed discount retail chain, Harris Scarfe, could be sold late next week.

But the price for the company, Australia's third largest retailer, looks like being between $90 million and $110 million.

Originally, newspaper reports suggested that the chain of 35 stores might sell for around $A150 million but this was later reduced to $A130.

Three main contenders are still in the running for the chain which went into voluntary administration in April after accounting regularities were found.

They are a Perth syndicate led by Toorak Holdings and including a West Australian property developer, a Melbourne syndicate of investors which involves Adam Trescowthick and the Melbourne-based Dimmey's discount retail chain.