BHS online business to close down two years after high street chain’s collapse

0 22 will shut down this month, after a strategic evaluate by its Qatar primarily based proprietor Al Mana Group.

The web site of the net UK enterprise, which launched a number of months after the excessive road model went bust in 2016, will shut down on 27 July. The group stated remaining deliveries will probably be made to prospects by 5 July.

Sir Philip Inexperienced says he’s ‘unhappy and really sorry’ over BHS collapse

The Al Mana Group stated it has determined to “focus assets on their stores-based companies”, and added that it “stays absolutely dedicated to increasing and investing in BHS Worldwide, its franchise shops enterprise”.

The Qatari firm purchased BHS’s on-line and worldwide operations from directors in June 2016, and earlier this yr opened 4 shops in Iraq.

Final yr, BHS Worldwide reported turnover of £11.7m, with £5m coming from the UK and £6.7m from the remainder of the world.

A BHS firm spokesperson stated: “The 18 members of our staff, together with all suppliers, will probably be handled pretty and equitably as the web site is closed down. We’d prefer to thank our staff, suppliers and our prospects for all their help over the previous 20 months.”

BHS went into administration in 2016, placing 11,000 jobs on the road, after failing to seek out emergency funding of £60m.

Learn extra

The collapse got here lower than a yr after the division retailer chain was bought by Sir Philip Inexperienced for £1 to Retail Acquisitions, led by former racing driver Dominic Chappell.

Each Mr Chappell and Mr Inexperienced had been questioned by MPs over the failure of the corporate, which left 20,000 staff’ pensions in danger.

Earlier this yr, Mr Chappell was discovered responsible of failing to offer details about the state of a pension fund at Brighton Magistrates’ Court docket. Following the conviction, the Insolvency Service stated it deliberate to ban the previous BHS proprietor from serving as an organization director for as much as 15 years.

Supply hyperlink –

You might also like

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.