BHS has filed for administration after attempts to find a last-minute backer failed.
Administrators from Duff & Phelps will now try to find a buyer for the clothing and homeware retailer, which operates 164 stores across the UK.
“The group has been undergoing restructuring and, as has been widely reported, the shareholders have been in negotiations to find a buyer for the business. These negotiations have been unsuccessful,” administrators Philip Duffy and Benjamin Wiles of Duff & Phelps said in a statement to the BBC.
The high street chain has been seeking a backer in recent weeks after it struggled to meet the conditions of a company voluntary agreement.
Retail Acquisitions, which bought BHS last year, had agreed a £60m loan with specialist lender Gordon Brothers, but it has not been able to secure the funds.
BHS: the impact on the property industry >>
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