Entrepreneur Philip Green is set to unveil a new bid valuing Marks & Spencer at up to £8.8bn (€13.3bn) this week, it was reported today.

Vittorio Radice has left troubled retail giant Marks and Spencer. He is the third director to quit in just over a week.

Shares in Selfridges are set for further gains this week as more potential bidders for the department stores group emerged over the weekend.