Green said to be in talks regarding sale of Bhs stores to Primark

Sir Philip Green has entered into talks with Primark regarding a potential sale of some of his Bhs stores according to a report in the Independent. This follows the purchase of ten Bhs stores by Primark last year.

The retailer is said to be considering the sale as part of a cost reduction exercise across the Arcadia brands and is closing a number of Bhs stores that are coming to the end of their leases. He is also putting the Dorothy Perkins and Burton chains into larger Bhs stores to reduce the group’s overall rent bill.

Primark, which is owned by Associated British Foods, is looking to buy the stores to boost growth of its store portfolio in Europe.

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