The independence of Interflora, the florist network, is in the balance as its board considers the option of selling to a private equity firm.

After 81 years, Interflora is pursuing incorporation, leaving its 1,850 members to re-assess their futures and appoint financial advisers to protect their interests.

The network has been hit by competition from the major supermarket groups, which have upped their offers in recent years to target the three-hour delivery service that has been the bedrock of Interflora business.

Interflora's chief executive Mike Richards has denied that the move is designed to line the pockets of the board, and insisted that making Interflora a private company will bring in much-needed funds for marketing, people and IT systems.

Profitability has been flat for the last seven years, and a value for the £2 million profit making enterprise is causing speculation in the City and beyond.

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