Veteran retailer John Lovering has teamed up with private equity firm Permira to put together a deal for furniture retailer DFS valued at more than £500m.

Goldman Sachs is advising DFS founder Lord Kirkham and has invited various private equity firms to make bids for the retailer, which notched up record EBITDA in the year to July, revealed by Retail Week on Friday.

Cinven, Advent International and Warburg Pincus are also considering making bids for the business.

Kirkham took the retailer private six years ago for £507m.

Lovering is chairman at department store group Debenhams, but is set to stand down in March.

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