A consortium backed by a wealthy Portuguese family and led by former Burton and Mothercare managing director Greg Tufnell is reportedly closing in on a deal to rescue BHS.
BHS guerilla marketing campaign
The group has already paid part of the sale proceeds as a statement of intent, The Guardian has reported. It is understood the deal is to buy all of BHS’s 164 stores.
Talks are expected to continue throughout today and on Monday, ahead of an announcement in the middle of next week.
Liquidators have been lined up in case the talks break down.
Tufnell is understood to be working alongside Nick de Scossa, a Switzerland-based banker, and José Maria Soares Bento, who is said to be working with a wealthy family in Portugal.
City sources cited by The Guardian suggested it is the Soares dos Santos family, however, representatives of the family have denied this.