Cape Town - Of the five likely retail contenders to buy furniture and linen business Boardmans, Mr Price is understood not to be sniffing around anymore while Edcon, which this week reported strong interim results, has been tipped a hot favourite.
Another one that has fallen off the list is Truworths International, which has confirmed news agency reports that it is not interested in Boardmans although it is still on the lookout for an acquisition.
Other probable buyers could include Woolworths, Foschini and possibly some other unlisted retail groups.
Furniture retailer Ellerines, which has just wrapped up the acquisition of up-market lifestyle group Wetherlys, told Business Report it was not interested.
Sources said a due diligence on Boardmans was currently under way. Talks to sell homeware, furniture and linen business Boardmans were making progress but supermarket chain owner Pick 'n Pay was intent on finding the "right" buyer, insiders said yesterday.
It is understood that finding the right buyer related to comments by Martin Rosen, the managing director of Pick 'n Pay Group Enterprises, to Business Report last week, when he said there was no interest in finding a buyer who would asset strip.
Of essence was retaining the people that worked at Boardmans and guaranteeing their jobs.
Boardmans, which is estimated to be worth between R150 million and R200 million, is small in the larger Pick 'n Pay group context. It makes up less than 0.5 percent of the supermarket chain's annual turnover of about R26 million.
Pick 'n Pay has indicated that Boardmans, although offering huge potential, does not fit in with its core grocery retailing competency.
Pick 'n Pay Stores closed down 10c at R14.90 yesterday.
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