Bids from Edinburgh Woollen Mill owner Philip Day and a mystery fourth bidder are thought to be ahead of Ashley in the running
Sports Direct tycoon Mike Ashley is understood to have been outbid by rivals including the owners of Matalan and Edinburgh Woollen Mill as administrators try to secure the future of BHS.
Sources said Ashley had put in a “low-ball offer” for the business, which collapsed into administration at the end of last month, putting 11,000 high street jobs at risk.
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