BHS boosted by public's campaign to find a buyer

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The public and staff rallied to show support for failed retailer BHS as it attempted to find a buyer ahead of a final bid deadline.

BHS marketing boss Tony Holdway told the Standard that a #SaveBHS guerrilla marketing campaign, launched last week to help find a buyer, has attracted 16,000 social media likes and shares.

It has also pulled in more than five million online page views.

The news will provide a boost for the 11,000 employees whose jobs are on the line after the 88-year-old retailer collapsed into administration last month.

Administrator Duff & Phelps called for initial bids for the business last Tuesday, and bidders had the chance to increase their offers for a final time today before a buyer is expected to be selected this week.

Suitors circling the business are understood to include Mike Ashley’s Sports Direct, Philip Day, the owner of Edinburgh Woollen Mill, and a consortium fronted by John Hargreaves, the founder of retailer Matalan.

It is hoped a new owner would take on all of BHS’s 164 shops.

The company, which has a £571 million pension deficit, was sold by Arcadia tycoon Sir Philip Green in March last year for £1 to a company called Retail Acquisitions.

Retail Acquisitions is led by Dominic Chappell, who has been bankrupt three times.

Source Article from http://www.standard.co.uk/business/bhs-boosted-by-public-s-campaign-to-find-a-buyer-a3249891.html

May 17, 2016 |
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