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Green's Arcadia bid backed by Hunter.
(From The Express)
Byline: James Robinson Deputy Business Editor
SCOTTISH retail entrepreneur Tom Hunter is backing Bhs owner Philip Green's GBP690million bid for clothing group Arcadia.
Hunter, who has a stake in Bhs, said:
"We offer Philip a stake in the deals we do and Philip offers us a stake in the deals he does. . . I will always back Philip Green."
Hunter made it clear that he had not bought any shares in Arcadia, whose High Street chains include Burton and Miss Selfridge.
It was reported last week that Arcadia was considering issuing section 21 notices under the Companies Act to find out if Green or any of his Bhs backers - which also include German bank WestLB - have been building a stake in the company. "I do not own any shares in Arcadia, " Hunter said.
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