Sir Philip Green poised to close deal on sale of BHS

Sir Philip Green, head of retail giant Arcadia, is close to signing a deal over the sale of BHS, with an announcement expected as soon as this week.

BHS: close to a sale
BHS: close to a sale

The struggling fashion retailer is part of Arcadia Group, which owns brands including Topshop and Miss Selfridge.

A new buyer is reportedly set to be announced for the 190 store chain over the coming days.

The struggling department store made a loss of £21m in the year ending 30 August 2014, up from a loss of £19.3m in the previous year.

The department chain hires12,000 staff and recently attempted to diversify by selling food and undercutting supermarkets such as Tesco with new venture, BHS Food Store.

Green bought the retailer in 2000, for £200m but the department chain has struggled, especially in the face of competition from budget clothing chains including Primark.

According to reports, a number of retailers are discussing the possibility of taking individual BHS stores as part of the sale, as well as several retailers and private equity firms. 


Recommended

Become a member of Campaign from just £46 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).