Mon, 26 Jan 2015 | BUSINESS SALE
Sir Philip Green is considering offers to takeover struggling department store chain BHS.
BHS was initially founded in Brixton in 1928, and is now part of Arcadia Group, which is controlled by Green. Several approaches for the chain are now being considered.
An Arcadia spokesperson commented: "We have had several approaches on BHS over the past few months. It is now the company's plan to explore whether any of these can be brought to a conclusion."
The news comes after poor financial results in November last year, where BHS reported losses of £21 million in the year to the end of August 2014. This figure was higher than the £19.3 million deficit seen in the previous year.
Previous interest in the department store chain has been seen from South African billionaire Christo Wiese, who – with former Asda chief executive Andy Bond – formed discount family fashion chain Pep & Co.
Independent retail analyst Nick Bubb said: "BHS has been driven into the ground by the competition from Primark and by its own addiction to discounting. The losses at BHS now risk dragging down the whole of Arcadia, so it is not surprising that the great man is now trying to cut it loose."
He added that it remains to be seen how much the department store chain will be worth to a potential buyer.
______________________________________________________________________
Related information:
Browse our businesses for sale
Very long established and profitable wholesale business. There is a healthy base of active repeat clients and the business has an excellent reputation. The location and premises suit the business perfectly with a small sales office, and a third party...
Extremely successful & exciting entertainment Business, the highest review rated of our kind in the World. Performing to over 600 events this year and growing you will find a fast growing business to take to an even higher level. Looking for somethi...
WEB-BASED
Long established motorcycle business. For over 25 years this highly regarded motorcycle training brand has offered training and testing services for motorcycles. The business is also a successful branded franchise dealer. They sell a well-known brand...
|
16
|
|
Sep
|
Cheshire-based SRL Traffic Systems completes MBO | MBO/MBI
SRL Traffic Systems, a manufacturer and supplier of portable...
|
13
|
|
Sep
|
AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE
AFH Financial Group, a listed wealth management firm headqua...
|
12
|
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
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