Philip Day is close to finalising a deal to buy the owner of Jacques Vert womenswear out of administration.
An announcement on a takeover of Calvetron Brands, which also owns the Eastex and Windsmoor labels, is expected this week.
It would be the latest in a series of acquisitions by the billionaire retailer, whose Edinburgh Woollen Mill group has been snapping up troubled brands, including Jaeger and Austin Reed, for several years.
News of the Calvetron purchase comes in the same week that Edinburgh Woollen Mill is separately in negotiations to try to rescue House of Fraser from administration.
