ONE of the bastions of the British high street, BHS, has been
put up for sale by Arcadia owner Philip Green.
The retail mogul confirmed the move this weekend, after receiving
interest from numerous parties for the ailing chain.
put up for sale by Arcadia owner Philip Green.
The retail mogul confirmed the move this weekend, after receiving
interest from numerous parties for the ailing chain.
“We have had several approaches on BHS over the past few
months,” a spokesperson for the company told The Guardian today. “It is now in the
company’s plan to explore whether any of these can be brought to a
conclusion.”
months,” a spokesperson for the company told The Guardian today. “It is now in the
company’s plan to explore whether any of these can be brought to a
conclusion.”
Formerly known as British Home Stores, BHS was founded in 1928
and acquired by Green in 2000, when he paid £200 million for the
fashion and homewares business. The company, which employs 12,000
people across 180 stores nationwide, reported losses of £70million
in 2013.
and acquired by Green in 2000, when he paid £200 million for the
fashion and homewares business. The company, which employs 12,000
people across 180 stores nationwide, reported losses of £70million
in 2013.
It is not known who the interested parties are at this stage,
but the store has previously attracted the attention of South
African tycoon Christo Wiese, US hedge fund Apollo, and Hilco.
