CBPE Capital, which owns the Cote restaurant group, could be considering a sale, with an estimated price tag of £200m.
The company is reportedly in talks with investment banks and advisers regarding a Cote strategic review.
Richard Caring sold a majority stake in the business two years ago to CBPE Capital, in a deal that valued the chain at £100m.
Founded in 2007, Cote currently operates just under 70 sites, and recorded a 26.6% rise in profit to £16.2m last year.