Former Mothercare and Burton boss makes bid to rescue BHS

A group led by the former boss of Mothercare is believed to be in line to rescue British Home Stores (BHS) from what some are calling the biggest high street disaster since the collapse of Woolworths.

Greg Tufnell, whose brother is former England cricket star Phil Tufnell, is heading up the newly formed consortium Richess Group.

Mr Tufnell served as the managing director of Mothercare between 1997 and 2000, and also held a similar post with clothing retailer Burton. Now a director of investment firm House of Britannia, with Richess Group Mr Tufnell is working alongside former Bristol Rugby Club chief exec Nick De Scossa.

Other bidders are known to have fallen out of the running, including John Hargreaves, the founder of fashion and homeware firm Matalan.

The BBC has reported that if no buyer is found by this Friday (May 27), 11k people will lose their jobs as BHS enters liquidation.

The department store chain’s administrators were hoping to secure a deal earlier this week but the process has been delayed with the emergence of Richess Group, which according to the Telegraph is believed to have the backing of a wealthy Portuguese family.