Telford's BHS store to close as firm is wound down
Telford's BHS store is to close after administrators today announced the group would be wound down.
The announcement was made by Philip Duffy and Benjamin Wiles, managing directors of administrators Duff & Phelps after a sale of the business could not be agreed.
In a statement this afternoon, Duff and Phelps said: "Despite the considerable efforts of the administrators and BHS senior management it has not been possible to agree a sale of the business. Although multiple offers were received, none were able to complete a deal due the working capital required to secure the future of the company.
"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."
The wind down order means that BHS’s store in Telford, the only BHS store in Shropshire, and the other 162 stores nationwide, will soon begin closing down sales.
The 88-year-old business entered administration on 25 April, after it failed to reach a last-minute deal to stay afloat.
Today's decision means that 8,000 members of staff are likely to lose their jobs, while an additional 3,000 contractor jobs could also be at risk.
