Retail round-up on May 25, 2016: Former Burton boss ahead in the race to save collapsed BHS and MPs could reject Mike Ashley's offer to meet him at Shirebrook warehouse.
Ex-Mothercare director-led consortium tables last-minute rescue bid for BHS
Former Mothercare and Burton managing director Greg Tufnell-led consortium has tabled an eleventh-hour bid to rescue collapsed BHS as the pressure mounts on administrator Duff & Phelps to seal a deal this week.
Richess Group, a newly formed vehicle fronted by Tufnell, has emerged as the frontrunner to buy the high street retailer out of administration.
Tufnell has been holding talks with administrators and pledged to pump tens of millions of pounds into reviving BHS.
It is understood that he aims to become BHS chairman.
The consortium is thought to be backed by the Portuguese Dos Santos family, whose involvement has been brokered by Nicholas De Scossa, a British banker resident in Switzerland, and José Maria Soares Bento, a Portuguese entrepreneur.
MPs likely to ask Mike Ashley to appear in London to answer questions
Labour MPs are set to reject Sports Direct founder Mike Ashley’s offer to meet them at the retailer’s Shirebrook warehouse on any date before June 6 to answer questions on its staff working conditions, The Times reported.
The business, innovation and skills committee is believed to have discussed the conditional nature of Ashley’s invitation in a private meeting.
Most were thought to be unhappy that a precedent could be set, whereby an individual determined the basis on which to respond to an official summons to appear before an inquiry.
The MPs are expected to clearly insist that Ashley appear in front of the parliamentary committee on June 7 in London. However, they have not ruled out visiting the Shirebrook complex later.