One of Wellington's famous family stores - LV Martin & Son - is in the process of being sold, industry sources say.
Although senior management of LV Martin & Son declined to comment, it is understood there are two bidders with competitive offers being considered.
The company is based in Ngauranga Gorge,
Wellington, and has shops in Lower Hutt, Paraparaumu and in Lambton Quay.
LV Martin & Son is owned by a family trust in the Martin name, though the family does not take a direct interest in the running of the company.
Former chief executive Neil Martin is one of the directors, as is current head Trevor Douthett.
Mr Douthett declined to comment while Neil Martin is in Britain. The trust's main beneficiary, Alan Martin, said he was always open to offers but declined to comment further.
Sources say a leading contender could be Smiths City a South Island retailer with 17 stores, the Dominion Post reported.
Chief executive Rick Hellings denied Smiths City was pursuing LV Martin & Son, saying as a listed company it was obliged to inform the sharemarket first.
However, he told shareholders last Tuesday that the company was keeping a close eye on opportunities in the North Island.
Other candidates may include the new Australian owners of Bond & Bond and Noel Leeming, plus franchise operations RetraVision and Betta Electrical.
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