Fri, 20 Mar 2015 | BUSINESS SALE
The new owners of BHS are considering the closure, sale or downsizing of 52 stores across the nation, sources suggest.
The department store chain was sold to Retail Acquisitions last week in a deal for £1 from Sir Philip Green. The new owners have since enlisted property agents Jackson Criss and Charles Palmer Property to consider the options for nearly a third of the department store's 171 stores, including a sale or closure, according to Property Week.
The list, which includes high profile stores in Manchester, Birmingham and Leeds, is a collection of sites that are under-performing and attracting interest from other retailers.
A spokesman for Retail Acquisitions said: “As with any new owner, Retail Acquisitions, together with BHS management, is looking at options for the property portfolio and its structure.
“Property consultants have been appointed, but this does not mean that any leases that may be under review will be sold, and certainly does not mean that store closure is the only option. Options could also include sub-letting underutilised space or renegotiating payment terms.”
Retail Acquisitions confirmed that the closure of stores in Oxford and Fosse Park would go ahead in the next few months as per a decision reached before they acquired BHS.
Additionally, the property agents told Property Week that they were only seeking new buyers for sites in Birmingham, Cambridge, Gloucester, Lakeside Thurrock and Meadowhall in Sheffield.
______________________________________________________________________
Related information:
Latest retail businesses for sale
An opportunity to acquire a long-established profitable law practice situated in a the county of Hampshire.
The acquirer of this practice will be required to take-over the unexpired part of all on-going agreements relating to future payments for software licenses, equipment, furniture, fixtures, fittings, storage rental, PI insurance, library and any payme...
Long established and profitable law company is situated in the county of Cleveland. The company undertakes Personal Injury – Claimant only work, and a small amount of Wills, Trust, Probate and LPA’s.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.