Sunday 01 May 2016 9:53 am

Sports Direct owner Mike Ashley says he could save BHS, preserving thousands of jobs

Sports Direct owner Mike Ashley has confirmed his plans to buy BHS are still alive.

The billionaire's plans would save the chain, as well as thousands of jobs.

Ashley told The Telegraph: "Any continuing interest that we have in BHS would be on the basis that we would anticipate that there would not be any job losses, including jobs at head office, and that all stores would remain open."

The news comes after managing directors Philip Duffy and Benjamin Wiles were appointed joint administrators of BHS on Monday, which put around 10,000 jobs at risk.

There have now been near 50 bid enquiries, though many are thought to just want to purchase certain stores.

Sports Direct had been in talks to buy the business, but negotiations were thought to have faltered over the cost of plugging the £571m pension deficit.

As a deal wasn't agreed, BHS had to be called into administration due to a cash shortage.

But it is now thought that interest from retail figures, including Ashley, has convinced administrators that a deal can be made to salvage BHS.