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
This is a highly organised facilities management business providing a broad range of property and cleaning services to the medical, care and hospitality sectors. Customers are contracted on a PPM basis.
LEASEHOLD
This is an opportunity to acquire a long established and consistently profitable highways maintenance company specialising in road planing. The company premises are located near the South East Coast from this location it is able to cover all of the S...
LEASEHOLD
Suppliers of specialist irrigation products and installation / maintenance services forcommercial and domestic irrigation systems. Clients include private households, landscape designers and contractors, businesses, sports and leisure facilities (bow...
LEASEHOLD
31
|
Mar
|
Industrial cleaning services firm acquired in pre-pack administration | ADMINISTRATION
An industrial cleaning services firm based in West Yorkshire...
31
|
Mar
|
Business and assets marketed for sale as Land Rover restorer collapses | ADMINISTRATION
Administrators are seeking buyers for the business and asset...
31
|
Mar
|
Acquisitive Babble completes double takeover | BUSINESS SALE
Babble, a private equity-backed UK cloud service provider (C...
15
|
Dec
|
Arcadia supplier Lloyd Shoe Company files for administration | ADMINISTRATION
East London-based Lloyd Shoe Company, an Arcadia Group suppl...
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 &...
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
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.