The future of furniture-to-fashion retail chain BHS will be resolved sooner rather than later with owner Sir Philip Green close to finalising a deal.

So claim weekend press reports, which say the Arcadia group is in detailed talks with a buyer and could make an announcement as soon as this week.

It was widely reported earlier this year that Sir Philip had decided to sell the circa £680m turnover chain.

The Sunday broadsheets had conflicting reports regarding what would happen to the business, but all agreed that a resolution was close.

The Sunday Telegraph claims a retail fund backed by Apollo Global Management — in alliance with the former Beales CEO Tony Brown — was attempting to buy the business, while the Sunday Times said Apollo was no longer the frontrunner and that Arcadia was finalising a deal with another, unnamed buyer.

Other reports said BHS could be broken up, with more focus on homewares instead of fashion.