Clapham House Group, the Aim-listed restaurant operator, is understood to be in advanced discussions over the sale of its Bombay Bicycle Club (BBC) chain for an estimated £10 million.

The company, which runs three BBC restaurants and 14 home delivery kitchens throughout London, is understood to have put the business up for sale recently through Coffer Corporate Leisure, the agent, after receiving unsolicited approaches.

Analysts welcomed the news, suggesting that Clapham could use the proceeds to re-invigorate expansion of its highly regarded Gourmet Burger Kitchen (GBK) concept. It scaled back expansion of GBK in December due to the credit crunch.

David Page, the Clapham founder and chairman, admitted at the end of last month that the company frequently fielded interest in its brands, which also include Tootsies and The Real Greek.

He said: "Over the years we have received multiple offers for every brand we have. We said when we floated that we'd sell at the right time. There is nothing on the table today, but if something comes up then we might consider it."

Clapham itself has also been the subject of bid speculation as Capricorn Ventures International, the owner of the Nando’s chicken chain, has built a stake of 25 per cent. Gondola Group, the PizzaExpress and ASK operator, has also been tipped as a suitor.

Clapham, which sent shudders through the restaurant sector in December with a shock profit warning, could not be reached for comment.

The identity of the suitor for BBC is not known, although a number of UK-based Indian entrepreneurs have previously expressed an interest.

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