Re­tailer to close store

Kentish Express Ashford & District - - Prolific Paedophile Jailed For Life - By Chris Price

Ash­ford’s BHS is set to close af­ter ad­min­is­tra­tors failed to find a buyer for the ail­ing re­tail chain.

The store, which has been trad­ing in County Square for more than a decade, will be wound down al­though staff have not yet been given a clo­sure date.

Other sites to close in­clude Gravesend, Hemp­stead Val­ley, Maid­stone and Tun­bridge Wells, with the loss of more than 11,000 jobs.

Ad­min­is­tra­tors Duff and Phelps said mul­ti­ple of­fers were re­ceived but none were able to com­plete a deal which met the cap­i­tal needs of the busi­ness, which has a pen­sion deficit of more than £570 mil­lion.

All 163 BHS stores will close in the com­ing weeks.

Duff and Phelps said it would con­tinue to try to sell stores but ad­mit­ted 8,000 jobs “are likely to go.”

A fur­ther 3,000 jobs of nonBHS em­ploy­ees who work in the stores may also be at risk.

The com­pany fell into ad­min­is­tra­tion in April.

The re­tailer was sold to city in­vestors Re­tail Ac­qui­si­tions for £1 last year by Ar­ca­dia Group, owned by the bil­lion­aire re­tail en­tre­pre­neur Sir Philip Green, who also owns Top­shop.

Mr Green has since been crit­i­cised over the sale and faced calls to an­swer ques­tions in front of the busi­ness se­lect com­mit­tee.

Joint ad­min­is­tra­tor Philip Duffy said “The Bri­tish high street is chang­ing and in these tur­bu­lent times, 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.”

BHS in County Square, Ash­ford, is set to close

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.