Rescue talks for British favourite retailer British Home Stores is set to close as rescue talks end in failure.
The popular store is set to close after it went into administration with bids from Mike Ashley’s Sports Direct and also former Mothercare boss Greg Tufnell failed at a last minute ditch.
BHS, in a statement, said:
“Our thoughts today are with the employees.”
“We thank them for their professionalism and hard work.”
“We would also like to thank the great British public for helping us in our efforts to save BHS resulting in several weeks of significant sales.”
Philip Duffy, managing director of Duff & Phelps and joint administrator, said: “The British high street is changing and in these turbulent times for retailers, 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 are currently providing support to their staff members during the difficult time.