Gerald Ratner is looking to raise £4 million as part of his plan create an online jewellery empire.

Ratner - whose high street jewellery business suffered big time after he famously described his products as "crap" - is looking to flog branded gear that is set to undercut traditional high street retailers.

According to AFX Ratner is planning an £876,000 reverse takeover of DPA Investments before changing the name to Ratners-Online PLC.

Further investment would be needed to then go on and list the business on the Alternative Investment Market (AIM).

As part on his move into etailing, Ratner is to acquire two online jewellery Web sites, Frogz.co.uk and VATfreejewellry.com from high street jewellery chain Goldsmiths and incorporate them into Ratners-Online.

If all goes to plan Ratners-Online should be up and running by September to cash in on the Christmas trade. ®