1. News
June 12, 2016

Sports Direct interested in acquiring parts of collapsed BHS

Sports Direct founder Mike Ashley is interested in acquiring a number of stores of UK-based collapsed retailer BHS.

Sports Direct founder Mike Ashley is interested in acquiring a number of stores of UK-based collapsed retailer BHS.

Although this is not an official bid, BHS administrator Duff & Phelps received a letter from Sports Direct.

Sports Direct spokesman was quoted by BBC as saying: "We can confirm that we have a continued interest in BHS.

"We have written to the administrator seeking to re-open a dialogue about saving a number of jobs and stores, along with the BHS name."

"We have written to the administrator seeking to re-open a dialogue about saving a number of jobs and stores, along with the BHS name."

BHS is currently under administration with its 163 stores set to close, which will lead to 11,000 jobs losses.

The UK Government’s Business Select Committee is looking into the reasons for the collapse of BHS into administration.

Last week, Ashley said that he had expected to purchase BHS before its collapse.

BHS’ previous owner Dominic Chappell earlier said that prior to the collapse of BHS, a rescue deal supported by Ashley was arranged; however, this deal was blocked by Sir Philip Green, who sold the chain to Chappell for £1 last year.