BHS is edging closer to a possible liquidation, with current offers including that from Sports Direct boss Mike Ashley understood to have been dismissed as too low.
Matalan founder John Hargreaves and Select Fashions owner Cafer Mahiroglu are thought to still be in the running, with their joint offer of between £60m and £75m for the business, which was sold for £1 to Retail Acquisitions last year. The sum is thought to include £40-50m of unsold stock.
But restructuring specialist Hilco Capital - which owns HMV among others - has also been named.
Others including Brantano owner Alteri Investors and Gordon Brothers are also understood to be interested in buying parts of the business piecemeal. Sports Direct's property boss - and boyfriend of Mike Ashley's daughter - Michael Murry has reportedly been in talks with landlords about buying specific sites.
The deadline for bids
The Telegraph reports that buyers are being put off by certain demands made by administrators Duff & Phelps, including that any deal include taking on all of BHS' 164 stores, including 40 loss-makers.
But one source told City A.M. there was still time left for the venerable high street name.
"The administrator needs market assessments of the value of the assets before putting the going concern offers to creditors," he said.
The retailer, which had been previously owned by Sir Philip Green, entered administration last month, putting almost 11,000 jobs at risk. Green has since faced pressure to answer questions over the towering £571m pension deficit.
Administrators Duff & Phelps did not respond to requests for a comment. Reported by City A.M. 21 hours ago.
Matalan founder John Hargreaves and Select Fashions owner Cafer Mahiroglu are thought to still be in the running, with their joint offer of between £60m and £75m for the business, which was sold for £1 to Retail Acquisitions last year. The sum is thought to include £40-50m of unsold stock.
But restructuring specialist Hilco Capital - which owns HMV among others - has also been named.
Others including Brantano owner Alteri Investors and Gordon Brothers are also understood to be interested in buying parts of the business piecemeal. Sports Direct's property boss - and boyfriend of Mike Ashley's daughter - Michael Murry has reportedly been in talks with landlords about buying specific sites.
The deadline for bids
The Telegraph reports that buyers are being put off by certain demands made by administrators Duff & Phelps, including that any deal include taking on all of BHS' 164 stores, including 40 loss-makers.
But one source told City A.M. there was still time left for the venerable high street name.
"The administrator needs market assessments of the value of the assets before putting the going concern offers to creditors," he said.
The retailer, which had been previously owned by Sir Philip Green, entered administration last month, putting almost 11,000 jobs at risk. Green has since faced pressure to answer questions over the towering £571m pension deficit.
Administrators Duff & Phelps did not respond to requests for a comment. Reported by City A.M. 21 hours ago.