BHS to be winded down with 11,000 job losses

British Home Store (BHS) will be winded down, with the loss of more than 11,000 jobs after the fate of BHS was sealed after a five week long sales process ended with no buyer being chosen.

In Malta, no one at Camilleri Group, owners and operators of four BHS outlets in Malta and two in Libya, was available for comment.

Back in April, when BHS went into administration in the UK, Camilleri Group managing director Tonio Camilleri had told MaltaToday that they had been told by the UK office that it was “business as usual”.

As of Thursday morning, the two most likely outcomes in the UK sales process were understood to be either a sale to Greg Tufnell, the former Mothercare boss, or liquidation.

But sources indicated a late-hour bid by Sports Direct’s Mike Ashley could have changed the fortunes of the situation. 

Ashley had stated in early May that he would save the stricken real estate and all 11,000 jobs.

Tufnell, on the other hand, joined a consortium of entrepreneurs who made a bid to only buy the assets of the troubled retailer, without saving the jobs.

BHS went into administration 13 months after Retail Acquisitions bought the retail brand from Sir Philip Green for around €1.30 in March 2015. 

A parliamentary inquiry into the collapse of BHS, and its €740m pension deficit, was launched by the British House of Commons. Sir Philip is due to give evidence to the joint committees on June 15.