Excitement over a possible takeover of The Warehouse Group, by company founder Sir Stephen Tindall

He and an Australian private equity firm are understood to be making a pitch to buy the retail group, which has been shedding assets and laying off staff in response to falling sales.

Shares in the company have plunged from above four-dollars to below one-dollar over the past three years.

But JMI Wealth Director Andrew Kelleher says the share price has turned around noticeably in the past day, up about 25-percent at close of trade yesterday.

He says for now, it's a case of watch-and-see what happens.