Retail mogul Philip Green is reportedly in talks over a possible sale of the Bhs clothing chain, but is remaining silent on the issue.

Green is said to have held discussions with competitors including Wal-Mart chain Asda and the Debenhams department store company, with options including joint ventures or a total sale.

Bhs, which has a chain of 180 stores, has failed to brighten up its image as a dismal, tired outfit. Green has predicted operating profit of GBP60m plus this year, compared to GBP105m the year before.

Green, who acquired Bhs back in 2000, has made two unsuccessful bids for high-street giant Marks & Spencer.

Green also owns the Arcadia retail group, which includes names such as Top Shop and Dorothy Perkins.