The boss of Sports Direct International PLC (LON:SPD) has told the administrators of collapsed retailer BHS he wants to take over some of its shops.
Mike Ashley wrote to them saying he was keen to save the BHS brand as well as a number of jobs with the retailer, which is being wound down after administrators failed to find a buyer, the BBC reported.
He could take over as many as 80 of the chain's shops, according to a story in the Times.
A Sports Direct spokesman confirmed it had a "continued interest" in BHS, having reportedly been previously interested in buying part or all of the chain.
Sports Direct or Ashley could make a formal bid as soon as Monday, the BBC said.
BACKGROUND: BHS collapses following failure of rescue bids
Meanwhile, former BHS owner Philip Green is said to have blocked a bid by Ashley to buy BHS that was set up by the chain's final owner, Dominic Chappell.
Chappell alleged Green reacted in anger when learning about the deal, but a spokesman for Green said he was unaware of Ashley's interest.
Chappell bought BHS from Green for £1 but it later emerged that the group had a large hole in its pension fund.
Green is facing pressure over the sale of the business, having been asked to face a parliamentary select committee on Wednesday.
Members of the committee are investigating whether the collapse of BHS could have been prevented.