DEPARTMENT retailer chain BHS will go into liquidation, placing in danger 800 Scottish jobs, after a bid to rescue the beleaguered firm fell by way of.
With a pension deficit of over £500m, the chain went into administration in April.
READ MORE:
Jobs at risk as Hamilton’s BHS store goes into administration
Directors Duff and Phelps confirmed earlier at the moment that no purchaser had been discovered for the corporate owned by a consortium referred to as ‘Retail Acquisitions’ which purchased it from controversial former proprietor for £1 final yr.
The collapse of the corporate now places eleven,000 jobs within the UK in danger. All 163 of the corporate’s shops might be closed within the coming weeks.
Touted rescue bids from ex Mothercare boss Greg Tufnell and Mike Ashley’s Sports activities Direct failed.
READ MORE:
Taxpayer shouldn’t be saddled with BHS pension deficit, says union
Duff & Phelps stated: “Though a number of presents have been acquired, none have been capable of full a deal because of the working capital required to safe the way forward for the corporate.”
BHS has sixteen shops in Scotland, using round 800 employees.
READ MORE:
BHS goes into administration
Billionaire Inexperienced has been criticised for his position within the sale of the corporate and the huge pensions deficit by campaigners, unions and MP’s.
Inexperienced was stated to have taken almost £400m from the corporate in dividends and different funds.
The complete record of Scottish shops set to shut:
Ayr
Glasgow (Sauchiehall Road)
Glasgow (St Enoch Centre)
Clydebank
East Kilbride
Hamilton
Kilmarnock
Falkirk
Dundee
Kirkcaldy
Leith (Ocean Terminal)
Edinburgh (Princes Road)
Edinburgh (Cameron Toll)
Stirling
Livingston
Aberdeen