Arcadia has received “several approaches" on BHS

Arcadia has received “several approaches" on BHS

UK retailer Arcadia Group is considering selling its troubled department store chain BHS after receiving “several approaches”.

BHS is owned by Sir Philip Green, which also owns the Topshop, Topman, Wallis, Dorothy Perkins, Burton and Miss Selfridge brands as part of the Arcadia portfolio.

Last year, BHS saw its losses widen to GBP21m (US$31.5m) for the year to 30 August, compared to GBP19.3m in the same period of the prior year, resulting in a double-digit profit slump for Arcadia. The chain did, however, post a 3.6% increase in like-for-like sales.

"We have had several approaches on BHS over the past few months,” a spokesperson for Arcadia confirmed in a statement today (26 January). “It is now the company's plan to explore whether any of these can be brought to a conclusion."

This is not the first time rumours have circled about BHS's future. In 2007, Green said he wanted to make Topshop the focus of his fashion empire through international store expansion, prompting rumours he could sell BHS.