Vivarte estimates a 106 million euro loss in sales for La Halle during the lockdown period in France, from March 15 to May 11.
The French retailers plans to separately sell Minelli, San Marina and Cosmoparis, leaving it with just La Halle and Caroll.
The retailer has entered negotiations with Groupe Royer, Stéphane Collaert and Thierry Le Guénic to off-load the company.
The fashion group has entered exclusive talks with Weinberg Capital Partners and Groupe Philippe Ginestet for the sale.
Vivarte has been undergoing a broad overhaul after restructuring its debt last year.
The French retailer said it is “back on track” as it invests in expanding remaining brands.