Coles’ top tier liquor offering, Vintage Cellars, could belong to someone else shortly, with reports Coles’ owner, Wesfarmers has been approached with offers for the chain.

Vintage Cellars has 77 stores, with private equity businesses said to have bid as much as $300 million for the chain.

In an analyst briefing last week, incoming Coles MD, John Durkan conceded that Coles’ liquor business is a drag on the food and liquor division’s performance, with a review to focus on reshaping the network, co-location and convenience, investment in new space.

Last week it was thought that 1st Choice would the brand Coles is most likely to divest.

Coles declined to comment on speculation of a sale.