Owners of high street brands are reported to be interested in a takeover of Harborough-based Joules

The owners of British high street brands including Phase Eight and Hobbs are believed to be interested in taking over Joules.

The fashion and homeware retailer – which has its headquarters on Rockingham Road in Harborough where it employs some 400 people – collapsed into administration last week.

But it has been reported South African group TFG – also known as The Foschini Group – was in discussions for several weeks before it called in administrators. The group also owns brands Whistles and G Star Raw.

It is now understood to be looking at whether it could take control from administrators Interpath Advisory.

Among those also expected to be interested in a takeover are fellow Leicestershire employer Next, Mike Ashley's Frasers Group and Marks & Spencer.

The Joules Group includes 132 Joules stores with an online business, and also runs the online-only Garden Trading Company. It’s distribution centre is in Corby.

Its shops and online store will remain open while options for the business are assessed, including it being sold as a going concern.

Administrator Will Wright from Interpath Advisory said last week: “Since the Group’s announcement, we have had an overwhelming amount of interest from interested parties. We will be working hard over the days ahead to assess this interest, but at this stage we are optimistic that we will be able to secure a future for this great British brand.”

Administrators say shops and concessions will remain open and orders placed online will be delivered.

The Foschini Group’s British arm TFG Group and administrators Interpath have been approached for comment.