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BHS administrator tells bidders to improve offers

BHS’s administrator Duff & Phelps has reportedly told a number of potential buyers to improve their bids before Tuesday (May 17) to be in with a chance of snapping up the high street chain.

BHS

 

One buyer was told to increase their offer by “tens of millions”, according to The Financial Times.

On Sunday (May 15) the administrators said: “We are dealing with a number of interested parties and are hopeful of concluding a sale of the business and assets of BHS next week.”

Meanwhile, a banker at Goldman Sachs, Anthony Gutman, will appear in front of MPs over his advice to Sir Philip Green on the sale of the retailer to Retail Acquisitions for £1 last March.

Law firm Olswang and accountants Grant Thornton, advisers to Dominic Chappell, could also be invited to appear before the parliamentary committee to give evidence.

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