Revolution Beauty’s boss has offered to step down if a deal can be reached to settle the fractious spat with boohoo.
The two retailers have been slugging it out for weeks, with 26.6% shareholder boohoo accused of trying to take control of its struggling rival by the back door.
According to Sky News, Revolution’s chief executive Bob Holt is prepared to stand down if a peace deal can be brokered.
Holt was voted off the board at its AGM two weeks ago at boohoo's instigation, only to be immediately reinstated, sparking a war of words between the companies.
Holt has been chief executive of Revolution for eight months having taken over following an accounting scandal
Boohoo has now requisitioned another meeting calling for the removal of Holt and other directors, but according to Sky News: "The board believes that a compromise position with Boohoo is close and could be reached in the coming days.
"If the board were able to reach a compromise, this would avoid the expense, administrative burden and other detrimental consequences for the company that would result from the General Meeting."