Seasalt is said to have scrapped plans to find a buyer after halting a deal to sell itself to Next.

The Cornish-based women's lifestyle retailer had been bringing in investors after seeing a boom in sales last summer.

According to The Times the company has now stopped the sale process to fashion retailer Next.

The brand was founded by Don Chadwick in 1981 and has 70 shops across the UK including one in Cirencester, Gloucestershire.

Seasalt told Retail Gazette: "Following a period of meetings with potential investors, we have made a conscious decision to step back from the process and we will not progress with a sale of the business at this point in time.

"The current uncertain state of the market and the many unprecedented external factors affecting the economy obviously do not make this an ideal time for an investment that reflects the strength and quality of our business.

"Therefore, we will refocus our efforts on driving the business forward and progressing our plans to grow and build on our consistent and successful upward trajectory to date under our existing leadership and ownership structure."