The GO Outdoors store in Netherton near Wakefield. Photo: Mike Kirby CC-BY-SA-2.0

The chairman of expanding retailer GO Outdoors has stepped down after only nine months in the job.

John Lovering joined the company in August with a reputation as an expert in private equity and stock market deal-making.

He was formerly chairman of pub group Mitchells & Butlers and retailers Debenhams. Private equity company 3i is believed to be on the verge of taking a minority holding in the Sheffield-based outdoor retailer which has 27 stores but is keen to expand further.

A recent takeover approach to troubled outdoors retailer Blacks Leisure was unsuccessful.

GO Outdoors reported a jump of 57 per cent in sales last year, with a turnover of £114.9m.  The company has stated its intention of opening a further 10 stores this year, creating 500 jobs.

The rumoured 3i deal would value GO Outdoors at more than £100m.