Landlords of BHS’s 164-store portfolio will have to relet their shops after liquidators were appointed to the business.
In what will be the largest -retail liquidation since the demise of Woolworths in 2008, liquidator Hilco will wind down the business, selling off remaining stock.
The owners of the best stores will be able to quickly relet, in some cases at higher rents than BHS. Other landlords may struggle to find new tenants at the rent BHS was paying, although retailers such as Peacocks, Aldi, Sports Direct and Primark are expected to show interest.
Administrator Duff & Phelps failed to find a buyer for the business after a deal with Richess Group, fronted by Mothercare director Greg Tufnell and backed Portuguese money, fell through. Duff & Phelps said: “Although multiple offers were received, none were able to complete a deal due to the working capital required.”
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