Time is running out for anyone interested in a piece of our largest wool exporter.

The controlling stake in Christchurch-based Wool Services International is up for grabs after two companies with the controlling stake in WSI were placed in receivership.

Receivers Price Waterhouse Coopers say the 63.8 percent stake in WSI has already attracted a good deal of attention.

PWC Receiver Maurice Noon says interested parties are running out of time to submit their interest.

"There's been a number of parties that have expressed an interest to date.

"We're now going through the process of sending confidentially letters to all those about the memorandum, for them to come back and show us what the seriousness of their intent is."

Mr Noon says PWC has no preference as to whether the stake is sold as a whole or in parts, but all applications should be processed soon.

"Probably the papers will go out early this weekend, but it will be the end of February, or early March for people to come back with expressions of interest.

"We'll then create a shortlist from that and following on from that we will get final bids from the shortlisted parties."

Newly formed Wool Partners Co-operative has expressed an interest in the shares but must wait until it achieves its $65m wool clip goal before bidding.