BHS has received over 50 expressions of interest

BHS has received over 50 expressions of interest

The administrators of UK retailer BHS are understood to have received five bids for the bulk of the business, just weeks after it collapsed into administration. 

BHS called in the administrators on 25 April, putting a potential end to more than eight decades of trading and leaving around 11,000 jobs at risk. The administrators are continuing to run the business while they seek to sell it as a going concern, and former owner Sir Philip Green has come under increasing pressure over the department store's collapse and its GBP571m pension deficit. 

Staff also launched a guerilla-style campaign earlier this week to garner support for the ailing business. 

BHS calls for backing with Guerrilla-style campaign

However, reports suggest that five bids have been made for the bulk of the business after the deadline for submissions closed last night. According to Sky News, there have been around 50 expressions of interest in total, with most looking to buy some of the chain's 164 stores.

A formal bid process is now expected to take place with the best offers taken to secured creditors for approval. A decision is likely to be made over the next few days. 

It became apparent this week that Lesley Titcomb, the head of the Pensions Regulator, learned about the sale of BHS by Green for GBP1 last year through the media.

Giving evidence to MPs about the collapse of BHS, she said she was not advised in advance and that she would have taken steps to ensure provisions had been taken for the pension scheme, had the watchdog known. 

Last week, the UK's Insolvency Service was instructed to launch a fast-track investigation into the circumstances surrounding BHS's collapse; the probe specifically tasked with considering the extent to which the conduct of the directors of BHS led to its demise.

A spokesperson for BHS declined to comment on the latest reports.

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