Topshop tycoon Sir Philip Green has submitted a bid for up-for-sale retailer Dreams as he looks to sell the retailer’s beds in his BHS shops, it is understood.

Green is understood to have been among a number of a bidders for the business which was put up for sale by private equity group Exponent earlier this year.

Founder Mike Clare and SCS-owner Sun European are all also understood to have lodgded first round bids for Dreams.

Dreams, which has suffered a slump in profits amid the tough big ticket environment, was put up for sale in December by its private equity owner Exponent, which bought the company from founder Clare for £220m in 2008.

Ernst & Young is conducting the sale process of the retailer.