Scottish discount clothing group, Mackays, which has around 180 stores is on the market for around £100 million.

Millionaire owners, Lennie and Iain McGeogh have spent time turning the business round and putting it back on track. But now the brothers are thought to want to sell the chain rather than pursue a flotation.

The company started life as a pawnbroker back in 1833 and transformed itself into a clothing and textiles operation by the end of the Second World War. Retail entrepreneur, Philip Green, and discount clothing business Primark are among the names being mentioned as possible trade buyers.