BHS to shut up shop after new rescue plan fails
PUBLISHED: 14:48 02 June 2016 | UPDATED: 14:48 02 June 2016
Around 25 jobs at Great Yarmouth’s BHS are under threat after administrators failed to find a buyer for the retailer.
The business will be wound down and all BHS’s 163 shops will close and be sold off to other retailers. Administrator Duff & Phelps said that 8,000 permanent jobs are likely to be lost and another 3,000 not directly employed by BHS are also at risk.
The news comes after last-ditch rescue bids from former Mothercare boss Greg Tufnell and Mike Ashley’s Sports Direct failed.
Duff & Phelps said: “Although multiple offers were received, none were able to complete a deal due to the working capital required to secure the future of the company.”
If you value what this story gives you, please consider supporting the Great Yarmouth Mercury. Click the link in the orange box above for details.