The Good Guys chairman Andrew Muir has stepped up plans to buy back more than 50 joint venture stores after deciding to explore a $900 million initial public offer as well as entertaining bids from trade buyers and private equity.

Mr Muir, who has been approached by several buyers since announcing a company restructure six months ago, told The Good Guys stores on Monday he would appoint advisers to explore an initial public offer.

The Good Guys chairman Andrew Muir has stepped up plans to buy back more than 50 joint venture stores

Market sources said the home appliances retailer was considering an IPO in 2014 and 2015, but postponed those plans to restructure the business as investor sentiment towards consumer electronics retailers was soured by problems at Dick Smith Electronics.

Over the last few months Mr Muir and his advisers, Helfen Corporate Advisory, have been in talks with several potential trade buyers including South African discounter Steinhoff International and private equity firm Bain Capital.