Edinburgh Woollen Mill is understood to be taking over the struggling fashion business Jaeger.
The Borders business - owned by tycoon Philip Day - was reported to be the secret buyer of the brand this weekend.
Edinburgh Woollen Mill has previously purchased several brands, such as Jane Norman, whose shops it closed.
Jaeger's current owners Better Capital declined to comment.
A source told the Sunday Times Jaeger would be put in to administration. "It unfixable," the source said. Edinburgh would then buy it out of administration, ditch its loss-making stores and then sell its fashion items in its own shops or online. Jaeger was founded in 1884.
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