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Tuesday 10 May 2016 7:03 pm

Five suitors emerge for the whole of troubled BHS

By: Billy Bambrough

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BHS has attracted five expressions of interest to buy the whole of the high street retailer.

The interest was registered ahead of today's 5pm deadline, according to a spokesperson for the company.

There have been a higher number of expressions of interest for specific parts of the business, with most thought to be keen to buy up some of the retailer's 164 stores.

Read more: Save BHS campaigners light up London landmarks

A formal bid process will now follow with stronger offers assessed by creditors. It is understood bidders are expected to be named in coming days.

The collapse of BHS last month put 11,000 jobs at risk, though stores across the country are still trading as administrator Duff & Phelps pores over the books.

Mike Ashley's Sports Direct, Swedish furniture giant Ikea, discount retailer B&M and Edinburgh Woollen Mills have been reported as interested in some or all of the retailer. BHS' latest boss Dominic Chappell is said to be interested in bidding too.

BHS was sold to Chappell for just £1 in 2015 by Sir Philip Green.

Read more: Pensions lifeboat must not be abused

There have been questions around BHS' health for some time and Green is now facing an inquiry into the chain's demise and will give evidence before MPs on 15 June. 

The outfit which bought BHS, a vehicle called Retail Acquisitions and headed by the thrice-bankrupt former racing driver Chappell, will also be questioned, alongside BHS pension fund trustees.

BHS has been criticised for allowing its pension deficit to balloon to £571m, for which the Pension Protection Fund could be liable for over half.

Green has called on the chair of the work and pensions committee, Frank Field, to resign for suggesting he could be stripped of his knighthood.

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