Employment agency Transline, which last week submitted court documents to prepare for insolvency, has extended its Notice of Intention by one week amid talks of a mystery investor coming to the rescue, reports Sky News. Hours before the deadline yesterday, the employment agency said it would extend it a further ten days. In a statement, Transline said: "We have been involved in a number of negotiations, and are now at an advanced stage with one of the parties we have engaged with.. Given this progress, we have filed a fresh extension of our NOI [notice of intention to appoint administrators], which will extend this period for a further 10 days. We have a clear timeline to complete the agreement with the party in question within the 10 days."

The identity of the investor is unknown. According to Sky, Transline Group paid more than £1 million last year to directors in the form of dividends, loans and a transfer of shares. Transline has been criticised by MP’s over its supply of temporary workers to Sports Direct. Yesterday, online fashion retailer Asos terminated its contract with Transline.