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Matalan founder behind mystery bid for BHS

Matalan founder John Hargreaves is involved in a mystery bid for BHS.

John Hargreaves

The bid not connected to Matalan and Hargreaves is thought to be working with a rival retailer, the Daily Telegraph has reported.

It comes as property tycoon Yousuf Bhailok confirmed he is pulling out of the race to snap up BHS, which collapsed into administration at the end of April.

Bhailok’s interest is understood to have waned after administrators Duff & Phelps said they would only accept offers to buy the entire business, including its 164 shops. 

Duff & Phelps has also instructed a number of parties to improve their bids, according to reports.

Edinburgh Woollen Mill owner Philip Day and Sports Direct boss Mike Ashley are thought to be in the running to buy BHS outright. 

The deadline for revised offers is today.

The Drapers Interview with John Hargreaves

Readers' comments (1)

  • In hindsight, the 'bidders' for BHS were looking for self-publicity as none of them were serious purchasers - just looking for their name on the front page. Had a serious, credible offer been made, it would of been accepted - simple as that.

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