The Marquee Club in Islington, London, is about to be sold to Mark Fuller, one of its former owners, according to press speculation.

The Marquee Club went into administration in January amid cash-flow problems.

Tony Nygate of administrators BDO Stoy Hayward was unable to comment on the rumour because of confidentiality agreements, but confirmed that the company was 'nearing a conclusion to this matter'.

Davis Coffer Lyons has been seeking offers in excess of £1.25m for the site.

The club was opened last year by Fuller, chef Garry Hollihead and Dave Stewart of the Eurythmics.