Up to 11,000 retail jobs in danger as BHS set to file for administration

Almost 11,000 employees working for one of the UK’s largest and best-known retailers could be made redundant as the chain is set to go into administration, a news report has revealed.

High Street retailer BHS is to file for administration after talks with Sports Direct to sell some of BHS’s 164 stores collapsed over the weekend, and it is understood any buyer would do so only if it did not have to take on the £571m pension deficit.

Last year, Retail Acquisitions, a consortium of financiers led by Mr Chappell, bought BHS from the retail entrepreneur Sir Philip Green for £1.

At the time, Retail Acquisitions said they would deliver £160m of funding to help turn around the fortunes of the chain, but have not been able to raise the sum.

In a letter to staff, BHS owner Dominic Chappell said: “It is with a deep heart that I have to report, despite a massive effort from the team, we have been unable to secure a funder or a trade sale.”

Mr Chappell said he was “sincerely sorry” and assured staff they would be paid their wages this month.

He added: “I would like to say it has been a real pleasure working with all of you on the BHS project, one I will never forget, you all need to keep your heads held high, you all have done a great job, but remember that it was always going to be very very hard to turn around.”

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