11,000 BHS jobs at risk
Will this affect you or anyone you know?
All 163 BHS stores will be holding closing sales over the coming weeks.
The jobs of 8,000 members of staff are likely to go, while a further 3,000 jobs of non-BHS employees who work in the stores may also be at risk.
“Despite the considerable efforts of the administrators and BHS senior management, it has not been possible to agree a sale of the business,” said the administrators in a statement. 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. Our thoughts today are with the employees. We thank them for their professionalism and hard work. We would also like to thank the great British public for helping us in our efforts to save BHS resulting in several weeks of significant sales.”
BHS are expected to file for administration on Monday 25th April which will see over 11,000 jobs put at risk.
In a letter to staff, BHS owner Dominic Chappell said: “It is with a deep heart that I have to report, despite a massive effort from the team, we have been unable to secure a funder or a trade sale. I would like to say it has been a real pleasure working with all of you on the BHS project, one I will never forget, you all need to keep your heads held high, you all have done a great job, but remember that it was always going to be very very hard to turn around.”
Mr Chappell added he was “sincerely sorry” and assured staff they would be paid their wages this month.
Retail Acquisitions purchased BHS last year for £1. At the time, Retail Acquisitions said they would deliver £160m of funding to help turn around the fortunes of the chain, but have not been able to raise the sum.
Having suffered redundancy in the past myself, I can understand how scary this will be for BHS staff. I hope each and everyone of you will find further employment very soon if anything should happen…