Former Mothercare boss said to lead rescue bid for BHS

Former Mothercare boss and current chairman of investment group House of Britannia, Greg Tufnell, is reportedly leading a bid to rescue retailer BHS.

Tufnell – the brother of ex-England cricketer Phil Tufnell – was said to have secured financial backing from Portuguese investors.

Mike Ashley’s Sports Direct, Poundland and Matalan founder John Hargreaves have all been touted as potential bidders, as administrators look to find a buyer for the company’s 164 stores.

It emerged this week that a combined committee of MPs heard on Monday that Philip Green’s Arcadia was warned about the potential risks of selling the High Street chain to Dominic Chappell.

Antony Gutman of Goldman Sachs said he flagged up Chappell's previous bankruptcies and lack of experience in the retail sector, according to the BBC. He also told MPs he was acting in an unpaid informal capacity for Green.

BHS went into administration in April with a pension fund deficit of £571m. More than 10,000 employees face an uncertain future as the search for a buyer continues.