Qatari retail group Al Mana has struck a deal to buy BHS’s 70 international stores and its website for an undisclosed amount, according to reports.
The Doha-based company already owns the franchise to some BHS stores in the Middle East, where it also runs operations for Harvey Nichols, Zara and Mango. It is understood the 70 BHS stores are in 19 countries including Mongolia and Libya.
The deal, which is expected to be announced later today, is the first to buy a chunk of BHS since the retailer collapsed into administration on April 25.
Administrators from Duff & Phelps are still seeking a buyer for some of its 160-plus UK stores. The stores continue to trade with closing down Sales while negotiations are ongoing.