Philip Day is on track to take retailer Bonmarche private after the last major institutional shareholder sold its stake in the company.
Artemis Investment Management, which held a stake of more than 12% in Bonmarche, offloaded its holding on Tuesday.
The sale puts Mr Day's vehicle Spectre above the necessary 75% threshold to take the company off the stock market.
It follows the exit of Cavendish, another significant shareholder which held 10.8% of the company, last month.
READ MORE: Bonmarche backs Day bid
Both funds accepted the 11.4p-a-share made by Mr Day, who is also the owner of Edinburgh Woollen Mill Group, before its scheduled closure on Friday.
The takeover offer, which was made in early April, valued the company at £5.7 million and was triggered when Mr Day's holding company Spectre acquired more than 50% of shares in the firm.
Shares in Bonmarche were trading 5.8% lower at 11.07p on Wednesday afternoon.
Homewares retailer Dunelm has delivered yet another dose of profit cheer as it said sales surged in store and online.
The group saw like-for-like store sales jump 12.1% higher in its final quarter to June 29 thanks to "favourable weather", while website sales soared 37%.
Total comparable sales rose 15.4% in the quarter.
READ MORE: Foreign investors buy into Edinburgh offices
It said full-year profits were now expected at the top end of City forecasts - having upped its earnings outlook for the second time in as many months in June.
The group said last month it was on course for pre-tax profits in the range of £124m - £126m, up from £102m underlying profits the previous year.
Nick Wilkinson, Dunelm's chief executive, hailed its "strong growth" in the final quarter.
Recruitment firm PageGroup has seen shares slump after warning that 2019 earnings are set to be towards the lower end of expectations as Brexit uncertainty and trade tensions take their toll.
Shares fell 12% as the firm revealed that gross profits in the UK dropped 2.4% to £35 million in the second quarter, with its Michael Page business suffering a 6% fall as Brexit hits confidence among firms and candidates.
Overall net fees rose 7.4% at constant exchange rates to £224.6 million in the three months to June 30, but this was lower than expected.
Page chief financial officer Kelvin Stagg said: "It is clear that macro-economic conditions in a number of our regions are becoming more challenging, and, as such, we currently expect 2019 operating profit to be towards the lower end of the range of current market forecasts."
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