Administrators running the Dolcis shoe store chain have had expressions of interest from 40 bidders and hope to conclude a sale in a matter of weeks.

Brian Green, restructuring partner at KPMG, told Times Online today that he was “confident” of saving the business, which was unable to pay a £2.5 million rent bill last month.

A total of 482 staff have been made redundant after the closure of 60 stores and concessions this week.

However, 644 staff remain employed across nearly 100 more sites and Mr Green said he was hopeful that the jobs could be "maintained".

He said: “We have got a lot of interest and a lot of expressions of interest. We formally advertise tomorrow but already 40 people have contacted us.

“Around a quarter want to take the business on as a going concern, others are interested in the sites and some are interested in the Dolcis brand.

“We are working to get a sale away that will keep the whole business intact.”

He added: “Morale is very good considering it’s difficult times. Everyone is pulling together.”

Dolcis traces its roots back to 1863, when John Upson began to sell his shoes from a street barrow in Woolwich market, southeast London.

KPMG was appointed as the administrator on Monday.

John Kinnaird, the Scottish entrepreneur, bought Dolcis from Alexon, home to Bay Trading and Envy, two years ago for £2.7 million and had been planning the rollout of a new store format.

It is not known whether Mr Kinnaird is one of the 40 interested parties.

Epic, Mr Kinnaird’s private equity backer, withdrew its backing this month.

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