LITTLEWOODS, the stores and mail-order retailer owned by Sir Frederick and David Barclay, is considering selling its chain of shops to the Asda supermarket group.
Asda, owned by Wal-Mart, the US giant, has put in an unsolicited offer of £500 million for the 186-strong chain of stores.
The Barclay brothers, who also own the Telegraph Group, are said to be considering the offer.
They bought Littlewoods in 2002 for £750 million and are hoping to see if any other potential buyers come forward.
It is believed the stores have annual sales of £1 billion.
Over the six months to October 2, 2004, like-for-like sales rose by five per cent.
The retail group has 119 Littlewoods and 67 Index stores, including a store in Swindon.
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