BHS to shut down with thousands of jobs set to go
BHS stores will be in '˜close down mode' and 8,000 staff are '˜likely to go' - including scores of jobs at five stores in the region - after administrators announced the orderly wind down of the retailer.
Administrators Duff and Phelps announced the end of the historic chain after failing to agree a sale and the name will disappear from the High Street. Some 3,000 contractors’ jobs are also at risk.
Liquidators are now expected to break up the 163-store company and sell it off piecemeal.
BHS employs 25 at a store on The Moor in Sheffield city centre. It also has outlets at Meadowhall, Parkgate Rotherham, Doncaster Frenchgate and Vicar Lane, Chesterfield.
Philip Duffy, managing director of Duff & Phelps and joint administrator, said although multiple offers were received, none were able to complete a deal due the working capital required to secure the future of the company.
He added: “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.
“As a result of the wind down all 163 stores will be in close down sale mode over the coming weeks and whilst continuing efforts will be made by the administrators to sell stores the jobs of 8,000 members of staff are likely to go. A further 3,000 jobs of none BHS employees who work in the stores may also be at risk.
“The British high street is changing and in these turbulent times for retailers, BHS has fallen as another victim of the seismic shifts we are seeing. The tireless work and goodwill of the existing management team and employees of BHS with the support of my team were not enough to change the fortunes of the company.”