Fashion investor Howard Tillman has expressed an interest in high street chain Austin Reed - amid reports that its owners could sell up.

Tillman, who owns fashion firm Jaeger and last month co-bought a 60% stake in luxury footwear label Beatrix Ong, has made other approaches for Austin Reed in the past few years.

A spokesperson for Howard Tillman PR told just-style that current reports of a bid were "pure speculation". Austin Reed could not immediately comment.

Austin Reed owners Peter Klimt and Guy Naggar last month saw their separate investment company, Dawnay Day, call in administrators to restructure a number of its businesses.

They could now sell the men's and women's wear retailer to raise funds to support Dawnay Day's recovery from the impact of a credit crunch in the UK, reported the Daily Telegraph newspaper.