Littlewoods has confirmed it is considering selling its chain of High Street stores.

The Liverpool-based firm - which also runs a home shopping business - was sold to media entrepreneurs, the Barclay Brothers, in a �750m deal last week.

It owns more than 300 stores, including the clothing chain Peacock.

Unions, which have been assured their members' jobs are secure, are due to meet managers next week.

Littlewoods was sold last week for �750m

A Littlewoods spokeswoman said it was considering offers for the stores that were made prior to the company's sale.

Liverpool Riverside MP Louise Ellman said she hoped Sir David and Sir Frederick Barclay would honour a promise to keep the company intact.

They bought it on Friday, ending decades of ownership by the Moores family.

Ms Ellman said: "I hope that people will keep employment and that as much as possible of what was Littlewoods will stay together, retaining its headquarters in Liverpool.

"It is as important for us as a city as it is for the people employed."

It is believed that Marks and Spencer, Next and BHS are potential bidders for the chain of stores.

The firm was set up in 1923 and was founded on the football pools business which it has since sold.

The Barclay Brothers own the Ritz hotel in London as well as The Scotsman newspaper.