Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Mike Ashley outbid for BHS

Sports Direct owner Mike Ashley has reportedly been outbid by rivals for BHS as administrators try to secure the retailer’s future on the high street.



Ashley put in a “low-ball offer” for the business, according to The Guardian, and administrators are now leaning towards an offer led by John Hargreaves, the founder of Matalan and owner of Select Cafer Mahiroglu.

Hargreaves reportedly spent several hours on Tuesday (May 17) meeting senior management and staff at BHS.

Ashley’s bid is also thought to be behind those from Edinburgh Woollen Mill owner Philip Day and a fourth bidder – thought to be a European retailer and a finance house.

Administrators are now not expected to finalise a deal until next week, later than the previous deadline of this weekend.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.