Womens wear retailer Noni B, which came close to collapse almost four years ago, has emerged as a potential buyer of struggling rival Specialty Fashion Group after a stunning turnaround under major shareholder Alceon Group.

Noni B chairman and Alceon executive director Richard Facioni confirmed Noni B was interested in buying Specialty Fashion, or some of its brands, which include Katies, Millers, Crossroads, City Chic and Rivers.