In a tough environment for retailers, Sir Philip Green who owns BHS stores under the umbrella of the Aracadia Group announced early in the year that he was contemplating a major restructuring. Closes source to Sir Green say a deal could surface in the next few days, although negotiations and final agreements will have to be made.
The rumors have been swirling, including some indicating housewares will be the main focus and fashion will be in the background, the flagship of the Miss Selfridge and Top Shop brands will be sold to a private equity group, while others says BHS will focus on selling individual stores.
ThisisMoney reports that Matalan might want to expand its footprint in more central locations through buying up BHS stores in hot spots, such as Oxford Street, London.
The Telegraph’s Ben Marlow speculates that Tony Brown, ex senior director at BHS might be working with Alteri investors, a fund within the Apollo private equity family, to buy up BHS. Brown has been a retail turnaround artist in Britain, working a CEO of Beales after leaving BHS. After increasing Beales’ store count, he worked at Peacocks, which was bought by Edinburgh Woolen Mill and then at 99p Stores, which was taken over by Poundland.