The struggling department store chain BHS has been put up for sale by billionaire Sir Philip Green who paid £200m for it in 2000.
The move would break up his high street retail empire Arcadia which also has Topshop, Dorothy Perkins and Wallis.
BHS, founded in 1928, has 180 stores across the UK employing 12,000 people. Its cash loss last year was £21m while generating more than £600m annually in sales. It also has a substantial property portfolio, including its main store on Oxford Street.
In an attempt to revitalise the chain, new management installed food sections. With planning permission to sell food already in place in 150 stores, a major grocery retailer may come forward.
Rumours had been circulating that some investors had expressed potential interest but now Arcadia has confirmed that it has had several recent approaches and it will now see if any “can be brought to a conclusion.”
Speculation includes the possible break-up of BHS with the prominent high street stores being of interest to other department store retailers, such as perhaps Galeries Lafayette in France or La Rinascente in Italy.
