British Home Stores (BHS) reportedly faced rumors about foreign buyers trying to convince retail tycoon Sir Philip Green to sell his department store chain. This was according to a report published by The Guardian on its website.

Christo Wiese, the third richest man in South Africa, was reportedly the top potential bidder of BHS. Wiese's estimated fortune is worth GBP2 billion. According to the Sunday Times, US private equity firm Apollo and other retail turnaround companies were also interested in buying the troubled British store chain, said the report.

BHS was reportedly weighed down by high-priced leases and large deficits in its pension fund. The company currently has 180 chain of stores all over UK. Its yearly sales reach GBP700 million per annum. Sir Philip purchased the department store chain for GBP200 million in 1999. His other businesses include Burton, Dorothy Perkins, Topman, and Topshop, The Guardian said in its report.