The two are believed to be planning a bid for the sofa chain, which is owned by Lord Kirkham, who is thought to be nearing retirement. He is said to be considering selling a majority stake in DFS, valued at more than 500 million.
Lovering – who was installed as chairman of pubs group Mitchells & Butlers last week – and Permira are expected to face stiff competition from other private equity groups, including Cinven and Advent International.