Fri, 15 Nov 2013 | BUSINESS NEWS
Sir Philip Green, owner of Arcadia Group and BHS, has stated that he will not rule out a sale of the BHS business.
Sir Philip stated that it would be “idiotic” to state categorically that he would be unwilling to sell the firm, but explained that as things stands he is not in any talks with potential buyers. The FT reported: “We are not in negotiations with anybody at all in relation to selling BHS. Does that mean it's not for sale? Nothing is not for sale. That would be an idiotic [statement]. We have not had and we are not in any negotiation or discussion with anybody at all.”
The comments come as Arcadia announced that its turnover increased from £2.68 billion to £2.74 billion. The firm's pre-tax profit also rose from £103.7 million to £481.1 million , although sales were down by 2.7 per cent when looking at stores that had been open for at least a year.
In response to the latest figures the company has started to explore alternative options for BHS, one of which is to expand into selling food in the department stores. Some 150 of BHS's 183 stores have permission to sell food already, meaning that the company could open a food outlet as early as 2014.
“We have already got the space. In research we have done, our customers have said they would like to buy food. We may have a shot at it,” said Sir Philip.
____________________________________________________________________________
Related information:
View the latest retail businesses for sale
Excellent supply teacher agency based in South Wales. Highly professional and experienced. Substantial database of active/inactive teachers. Minimal overheads. Impressive financial profile. Vast scope for future growth. Offers invited.
RELOCATABLE
Treasured Sicilian café/restaurant idolised in the area for their charming décor and delectable food. This is a superb opportunity for the right buyer to walk into a fully operational business with loyal customers and a quaint restaurant floor. Ideal...
LEASEHOLD
Well-established, with excellent reputation. Operates throughout central London and within the M25. High-quality products and service. Warehouse and offices within a good location. 148 active customers. Huge scope for growth. Offers invited.
LEASEHOLD
|
20
|
|
Jun
|
Prescription start-up acquired by healthcare giant for undisclosed sum | BUSINESS SALE
A UK start-up company that helps individuals manage their su...
|
19
|
|
Jun
|
Meat and poultry wholesaler goes under - business assets up for sale | ADMINISTRATION
Financial difficulties at a London-based meat and poultry di...
|
18
|
|
Jun
|
Administrators called in for West Midlands contractor | ADMINISTRATION
A contractor based in Aldridge, West Midlands has collapsed ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
29
|
|
Sep
|
BHS 'reborn' as online only business, BHS digital | ADMINISTRATION
British Home Stores (BHS), which was wound down in June, is ...
|
03
|
|
Jun
|
BHS faces liquidation as rescue bids fail | BUSINESS SALE
BHS faces going into liquidation after administrators Duff &...
|
26
|
|
May
|
Pretty Polly tights firm enters administration after BHS collapse | ADMINISTRATION
The Derbyshire-based manufacturer of Pretty Polly tights has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources