Little Chef, the iconic roadside cafe chain, has been but up for sale by owners R Capital.
Brought out of administration by the firm in 2007, the sale is expected to raise tens of millions of pounds and includes all of the near 200 sites around the country.
The Sunday Times reports that motorway service station operators Moto and Welcome Break are expected to make statements of interest in buying the chain.
Little Chef first opened in Reading in 1958, with a tiny 11-seat restaurant.
The eighties proved to be the golden-era for the brand with millions of customers served every year from over 230 branches.
Its appeal ultimately faded in the face of cheap fast food outlets such as McDonalds, which became increasingly popular with busy motorists.
Eventually, Little Chef began accumulating significant losses under The People's Restaurant Group, which had bought the brand in 2005 for £52 million.
Even famous TV chef Heston Blumenthal couldn't save the day. He was drafted in to reboot the outdated decor and menu, but despite his own Fat Duck restaurant being considered amongst the best in the world, he failed to apply the same magic to Little Chef. The chain eventually folded, resulting in mass restaurant closures and redundancies.