Suitors for DFS

The collapse of New Look's float plans and Matalan's decision to pull its sale rather than accept a bargain basement price has not deterred Lord Kirkham in his efforts to find a buyer for sofa supermarket DFS. It is understood three private equity groups – Cinven, Permira and Advent International – have made it through to the second round of the proposed auction process. Final bids are expected to be around £500m. Behind the settee, though, there is a tussle between two men who are usually a double act and have made millions from previous PE ventures together. Permira has called in John Lovering, the man who sold a duff Debenhams, loaded with debt, back to the market after a spell in PE ownership. Cinven has his protege Rob Templeman, chief executive of Debenhams (has he really got the spare time?) and usually Lovering's wingman. There's clearly big money down the back of this sofa.