'11,000 jobs at risk as BHS faces collapse into administration as early as Monday'

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High street chain BHS could collapse into administration as early as tomorrow, according to reports.

The UK retailer, launched in Brixton in 1928, has apparently failed to secure a rescue deal, putting 11,000 jobs at risk.

Sources described as “close to the owners” told the BBC: “Things don’t look good.”

It comes after loss-making BHS was sold last year by retail tycoon Sir Philip Green for £1 to a little known group of financiers called Retail Acquisitions.

Talks are said to be ongoing with Sports Direct but a source told the Telegraph a deal looked unlikely.

On Friday BHS denied rumours it was on the verge of falling into administration, with a spokesman stressing it was “business as usual”.

The chain began as a single British Homes Stores outlet on Brixton Road in south London nearly 90 years ago.

Its demise would be the biggest British high street failure since the collapse of Woolworths eight years ago.

The Evening Standard has contacted BHS for comment.

Source Article from http://www.standard.co.uk/news/uk/11000-jobs-at-risk-as-bhs-faces-collapse-into-administration-as-early-as-monday-a3232401.html

April 25, 2016 |
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