Former Mothercare Boss In Last-Minute BHS Bid

A consortium led by former Mothercare (Other OTC: MHCRF - news) and Arcadia executive Greg Tufnell has emerged as a last-minute potential bidder for collapsed retailer BHS.

Mr Tufnell, brother of former England cricketer Phil Tufnell, reportedly heads the newly formed Richess Group, backed by Portuguese investors.

Mr Tufnell was managing director of Mothercare from 1997 to 2000 and previously led Burton, one of the brands owned by former BHS owner Sir Philip Green's Arcadia group.

Other potential bidders reported to have expressed an interest in BHS include Matalan founder John Hargreaves, Poundstretcher and Newcastle United owner Mike Ashley's Sports Direct.

BHS collapsed into administration in April putting 11,000 jobs at risk. Reports suggest there will be a decision on its future by the end of the week. Administrators Duff & Phelps declined to comment on latest reports.

The demise of the retailer leaves the Pension Protection Fund (PPF) – the "lifeboat" funded by a levy on other retirement schemes – having to shoulder the burden of a £571m BHS pension black hole.

MPs have been sharply critical of previous owners including Sir Philip, who sold the business for £1 to little-known consortium Retail Acquisitions last year.

Earlier this week a Commons committee investigating the collapse heard evidence that Sir Philip's Arcadia group had been informed that the head of the consortium, Dominic Chappell, had a history of bankruptcy and no retail experience.

Sir Philip - who is due to appear before MPs next month - has hit back at what he calls his "trial by media" and calls for him to lose his knighthood.