Sir Philip Green puts BHS chain up for sale

RETAIL tycoon Sir Philip Green is understood to have hoisted the for-sale flag over the loss-making BHS department store chain, which he bought 15 years ago for £200 million.

Sir Philip Green, pictured with daughter Chloe in Topshop, which forms part of his Arcadia fashion empire. Picture: Getty

The billionaire, whose Arcadia empire also owns Burton, Evans, Dorothy Perkins and Topshop, has received a number of approaches for the retailer, according to reports yesterday.

Latest available accounts at Companies House show that BHS, which employs about 12,000 people and has more than 180 stores across the UK, made a pre-tax loss of £69.6m in the 12 months to 31 August, but this was a dramatic improvement on the previous year’s £116m loss.

Green has been introducing food to BHS’s stores in a bid to take on the big supermarkets, and there is speculation that a grocery chain is behind one of the approaches for the business.

Arcadia did not respond to a request for comment last night.

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