FORMER Top Shop boss Jane Shepherdson is understood to be days away from sealing her high-street comeback by taking a stake in Whistles, the fashion chain, and becoming its chief executive.Shepherdson, who unexpectedly quit Sir Philip Green’s Top Shop in 2006, has been in talks about the move since the end of last year. An announcement could be made as early as this week.Under the arrangement, she would take an estimated 20% stake in Whistles with other management members. It would be demerged from Mosaic group, owned by Baugur, the Icelandic investor. Baugur is likely to keep a stake of about 49%. It is thought the deal values Whistles at £15m-£20m. Baugur refused to comment.The news came as Hamleys, the toy retailer owned by Baugur, emerged as one of the best performers on the high street this Christmas. It revealed that like-for-like sales rose 11.3% in the five-week period to December 29. Overall sales were up 26%.

Jenny Davey