Fury as Sir Greed firm takes over BHS store
Sacked staff plan pr otest at salt in wounds’ move
SIR Philip Green has sparked anger by taking over one of his old BHS flagship stores – a year after the firm collapsed.
Former BHS workers among the 11,000 who lost their jobs and saw their pensions put at risk accused the billionaire of “rubbing salt in the wounds” with the move.
And they are threatening to protest outside the Outfit fashion chain – which sells Topshop, Miss Selfridge and Dorothy Perkins brands – when it opens in Newcastle city centre next month.
The building, leased by the former department store, has stood empty since BHS plunged into administration last year.
It is owned by the British Steel Pension Fund, which was left out of pocket when the chain went bust and faces a £1billion funding black hole.
Experts believe Sir Philip’s Arcadia Group, the owner of Outfit, would have been able to renegotiate the lease on better terms than before.
One said: “Any retailer is in a strong bargaining position for taking over former BHS stores.”
It is thought Arcadia, which has 77 Outfit shops, may be eyeing up other vacant BHS branches.
Ex-employee Joanne Reeves, 31, who worked at the Newcastle store for 11 years, said: “It is rubbing salt in the wounds. A lot of people gave the best years of their lives to BHS.”
Another former employee, Jean Costello, 52, of South Shields, said: “This is putting up two fingers to all the staff who lost their jobs.”
BHS went bust 13 months after it was sold for £ 1 to ex- bankrupt Dominic Chappell. MPs slammed Sir Philip after his family took £400million out of the firm in dividends. In February, he paid £363million to shore up pensions but he still faces calls to be stripped of his knighthood.
The British Steel Pension Fund said: “We are unable to comment given that the terms of the lease are commercially confidential.”
Arcadia Group did not respond to our requests for a comment.