Sir Philip Green is on the verge of selling BHS after receiving “several approaches” for the retailer.
Green is reportedly looking to offload BHS from his Arcadia Group which includes high street regulars such as Burton, TopShop and Evans.
Green’s spokeswoman told the Guardian: “We have had several approaches on BHS over the past few months. It is now the company’s plan to explore whether any of these can be brought to a conclusion.”
This comes on the back of disappointing sales from BHS which in 2013 suffered a loss of £69.6m following sales of £675.7m.
Green purchased the firm for £200m in 2000 from Storehouse.
The news follows popstar Rihanna successfully winning an appeal against Green’s TopShop, restricting it from selling products featuring her likeness without permission.