Potential suitors are circling Sir Philip Green’s BHS as billionaire Christo Wiese is set to step up his interest in the firm.
Wiese, who used to own Poundstretcher and the Brown & Jackson group, which owned What Everyone Wants, Your More Store and The Famous Brunswick Warehouse, is set to visit the UK this week as his interest intensifies.
Wiese is keen to snap up BHS but The Mail on Sunday reports that Poundstretcher and Poundworld are also on his list of potential acquisitions. He has teamed up with former Asda boss Andy Bond to buy a UK business.
However, it is thought he faces competition for BHS from US private equity firm Apollo and turnaround specialists including HMV owner Hilco.
Green bought BHS in 1999 for £200m. The retailer has 180 stores and annual sales of £700m but is weighed down by expensive leases. It made a £71m loss last year. Green has been slowly closing branches across the country and has introduced product from his other businesses into the store, including Dorothy Perkins and Burton.