Two millionaire Evertonian businessmen and US firm MSP Sports Capital will be targeted as potential buyers if Farhad Moshiri axes his deal with 777 Partners.
John Lewis has shed 3,800 jobs over the past year, as it races to cut costs across its stores.
The leader of the blocked takeover bid for The Telegraph has admitted he should not have given Abu Dhabi such a big role in the deal.
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