​Family-owned Ann Summers is understood to be “exploring options” for the intimates retailer. The Gold family is understood to be in early-stage discussions with Interpath Advisory to work on a process that could see it relinquishing full ownership, according to Sky News.

The family, which has owned 100% of the business for more than half a century, is to explore options, which could include a partial or majority sale. It trades from 83 stores and employs over 1,000 people.

In January, Ann Summers secured a further £8 million in funding to bolster expansion plans for both physical store and online ops announced 14 months ago.

But retail industry sources told the broadcaster that Ann Summers had been in talks with Interpath for several weeks, although it has yet to be formally hired.

They said that some dilution of the Golds’ interest was probable, although it was far from certain that they would sell a controlling stake.

In a statement issued in response to an enquiry from Sky News, Vanessa Gold, Ann Summers’ chair, said: “We, like many other retailers, are dealing with the unhelpful backdrop to business of the decisions announced by the government at the Budget and the rising cost to retail.

“As a family-owned business, we are in a fortunate position and have committed investment for over 50 years. This has created a robust and resilient business. We are exploring a number of options to further grow the brand into 2025 and beyond.”

The report said private equity firms and other retail groups are expected to express an interest in a takeover of Ann Summers.

It said one possible contender could be Frasers Group, which already owns upmarket rival Agent Provocateur.

Any formal process is unlikely to surface until after the key Christmas trading period is completed.