Next is near underlining its standing as Britain’s most prolific purchaser of rival excessive road style chains by snapping up Fat Face in a deal price greater than £100m.

Sky News has learnt that the FTSE-100 clothes large is placing the ending touches to an acquisition of Fat Face, simply three years after it was taken over by its lenders.

City sources mentioned the deal may very well be introduced later this week.

The buy of Fat Face, a family-focused clothes retailer which trades from round 180 UK shops, would be the newest identify to have made it onto Next’s lengthening post-pandemic procuring checklist.

It just lately confirmed that it was growing its stake in Reiss to cement its place because the model’s majority shareholder.

Since the COVID disaster, it has snapped up the web furnishings retailer, Made.com, which had crashed into administration; Cath Kidston, which had additionally encountered monetary difficulties; and JoJo Maman Bebe, the maternity put on retailer.

Lord Wolfson, Next’s long-serving chief government, has additionally struck partnerships with Victoria’s Secret and Gap.

Its prolific shopping for spree signifies that Next has successfully displaced the billionaire tycoon Mike Ashley’s Frasers Group because the UK’s most frequent acquirer of smaller retail manufacturers.

The Jo Jo Maman Bebe deal was struck alongside hedge fund Davidson Kempner, with which Next additionally explored a takeover of TopShop when it fell into insolvency proceedings.

TopShop was finally purchased by ASOS, the web style retailer.

Fat Face’s house owners have been reported to have appointed Rothschild to advise on strategic choices in May final 12 months.

For them, the deal will characterize a optimistic consequence, with the enterprise having been taken over by lenders together with Alcentra and Lloyds Banking Group in the summertime of 2020.

Run by Will Crumbie, chief government, the corporate was based in 1988 by two entrepreneurs, Tim Slade and Jules Leaver, throughout a snowboarding vacation.

The pair wanted extra money to proceed their journey, prompting them to promote t-shirts at evening from the again of their camper van.

Fat Face was purchased by Bridgepoint, the non-public fairness agency, in 2007 for £360m from Advent International, one other buyout agency.

It got here near a flotation in 2014 however was compelled to desert it throughout troublesome inventory market circumstances.

The firm has B Corporation standing, and loved sturdy gross sales development throughout its final monetary 12 months.

It now operates within the US and Canada, though its presence there stays small.

Next, which just lately raised revenue forecasts, has a market worth of £8.75bn.

Next has been contacted for remark, whereas Fat Face declined to remark.