The chairman of Royal Mail, Allan Leighton, has been in secret negotiations to buy BHS, the department store chain, from Sir Philip Green, the retail billionaire.
Leighton, who is also chairman of BHS, has been in talks to buy the company for weeks. He had assembled a number of banks to put forward a bid worth around £700 million.
But this profit-hungry pursuit seems to have come to nothing. The Times newspaper says, “Leighton has been linked with several new ventures. He is keen to leave Royal Mail next year and immerse himself in a business venture where he can make some serious money.”