Owner Montagu is seeking a full exit from Maplin after ten years.
While many reports suggest that the electronics retailer is up for sale with a £200 million price tag, The Telegraph believes it could go for as high as £500 million.
PwC has been appointed to lead the sales process following a series of approaches from trade buyers.
Montagu has owned Maplin since 2004. It first tried to sell the retailer in 2011, appointing KPMG to lead the process.
Since then it has invested £40m into the business, extending its range of products and revamping 214 stores.
Maplin saw like-for-like sales rise five per cent in December and in January, it opened its first airport store in Glasgow airport.
Last month, the retailer announced that it had teamed up with a business founded by musician Peter Gabriel to improve customers’ shopping experiences.