Rescue offer mounts for Mark One

Tuesday 20 February 1996 00:02 GMT

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Rescue offer mounts for Mark One

Philip Green, the former Amber Day chairman, is set to mount a rescue offer for Mark One, the discount fashion retailer which collapsed into administration last Friday. Mr Green has acquired the company's pounds 3.4m of secured debt and also controls 92.5 per cent of the company's shares. It is thought he will make an offer to creditors, who are owed a total of pounds 17m, in the next few weeks. He intends to run the 96 strong chain in its existing form.

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Rescue offer mounts for Mark One

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