Upmarket supermarket chain Booths has been put up for sale, opening the door for takeover bids by the likes of online giant Amazon.

The 170-year-old Lancashire-based firm, dubbed 'Waitrose of the North' - and one of Prince Charles' favourite stores - has been in the Booth family for five generations.

It has a number of stores in west Lancashire with its Burscough store one of the best performing of the group, but after suffering losses of £6.3million last year from its 28 stores, its family owners have called in advisers to find investors interested in taking it over.

Clive Black, retail analyst at Shore Capital, said: "The wild card would be whether Amazon, after buying Whole Foods in the US as a premium player, will go from online to offline."

Analysts suggest Booths could fetch between £130million and £150million, although the family owners are reportedly looking for a substantially higher offer.

A Booths spokesman told the daily Mail money website 'this is money': "We always keep our strategic options open."