Upscale shirt seller TM Lewin is in the final stage of talks over a possible sale of the company, The Telegraph reported.

Lewin might be sold for up to GBP35m (US$61.19m), the report said.

Private equity house 3i is said to be leading the bidding process at present, with contenders including Isis Private Equity and Lloyds Development Capital.

Managing director Geoff Quinn is said to be eager to grow the chain from its present 29-store status.