Struggling lingerie retailer Agent Provocateur is close to confirming a buyer, according to Sky News.

In the coming days the company is expected to announce a new owner with bidders reportedly now whittled down to three.

Lion Capital, former owner of failed lingerie company La Senza are thought to be one of the three bidders, alongside French fashion retailer and turnaround specialist Etam.

READ MORE: Agent Provocateur CEO in talks over his future

This follows a long period of dwindling sales at the retailer, with an accounting scandal proving the tipping point that sent the value of the company plummeting.

Since then numerous senior figures have departed, including former chief executive Garry Hogarth and chairman Chris Woodhouse.

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