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BHS news and archive

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Former BHS owner jailed for tax evasion

Dominic Chappell, the former owner of UK high street stalwart BHS, has been jailed for 6 years for tax evasion. BHS collapsed in 2016 just a year after former owner and current Arcadia boss Sir Philip Green offloaded the company in a controversial one pound deal to Chappell’s City investor Retail Acquisitions. The collapse resulted in the loss...

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A quarter of BHS stores still vacant four year after collapse

Four years after the collapse of former UK high street stalwart BHS, a quarter of its stores remain vacant, according to new research. In 2015, former owner Sir Philip Green offloaded the BHS retail group for just one pound to City investor Retail Acquisitions. BHS collapsed into administration the following year. Today, just under half of the...

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New evidence could see BHS directors investigated

There has been little news coverage concerning BHS ever since Sir Philip Green was forced to pay 363 million pounds into its pension fund in 2017. To refresh any reader's memory, less than a year before the troubled department store collapsed, Green sold the business for 1 pound to Dominic Chappell, a formerly bankrupt businessman with no...

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Phillip Green's fashion emporium resents from 16 percent profit loss in 2016

Profits have fallen at Sir Philip Green’s fashion emporium. Concisely, Topshop’s owner’s holding company is still resenting from the collapse of BHS, having noted a 16 percent decrease in annual profits for 2016. Taveta Investments, a holding which includes the billionaire’s Topshop, Dorothy Perkins and Miss Selfridge brands, is expected to...

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Management

Sir Philip Green to pay up to 363 million pounds to BHS Pension scheme

London - One of the most heated debates of the British high streets of the last year may finally be put to bed, as Sir Philip Green has agreed to pay 363 million pounds into the BHS pension scheme as part of a cash settlement with the Pensions Regulator. Green's payment comes months after the demise of BHS, during which the pension fund for the...

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Management

Overview: Fashion retailers who went bust in 2016

London - 2016 was not the easiest year for most, but especially not for UK retailers. Those who were unable to keep up with the shift in consumers shopping habits, preferences and styles found themselves struggling to keep their doors open on the high street. 30 major retailers collapsed last year - 20 percent more than in 2015 - according to...

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​The UK's high street said farewell to 30 retailers in 2016

London - 2016 was not the kindest year for UK retailers as 30 retailers went bust in 2016 - an increase of 20 percent compared to the 25 medium-to-large retailers that went under in 2015 according to the latest data from the Centre of Retail Research. The number of stores to close their doors for good in the UK as a result of the retailer's...

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44 percent of UK fashion retailers facing bankruptcy

A new report unveils that almost half of all UK fashion retailers are facing financial ruin as competition, the fall in sterling and heavy discounting take their toll on the sector. The last report from Opus Restructuring indicates that 3,991, fashion retailers in the UK – that´s 43.6 percent of all British fashion players - are at risk of...

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Former BHS-owner Dominic Chappell arrested amid tax probe

London - The former owner of collapsed high street retailer British Home Stores (BHS), Dominic Chappell, has been arrested by HM Revenue & Customs following an investigation into unpaid taxes. Chappell was arrested earlier this month for failing to pay over 500,000 pounds in tax on profits made from BHS, reported the Sunday Times. The arrest...

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BHS to launch as online retailer

When BHS was snapped up by Qatar-based conglomerate Al Mana Group back in June, there was little expectation the retailer would make a recovery, let a lone a return to the high street. While the media has been keeping busy publishing the downfall of the company and the associated activities of its former owners, Sir Philip Green and Dominic...

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Management

Arcadia Group under investigation by pension watchdog

London - The Arcadia Group, Sir Philip Green's retail empire which owns Topshop and the now defunct BHS, is under investigation from the Pensions Regular. The announcement comes as the watchdog is in the process of determining if Green is responsible for a contribution towards the pension fund of the failed BHS chain. The fall of BHS has...

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Remaining BHS stores to close

BHS is to close its remaining stores in the UK within the next four weeks, Sky News has reported. The move will possibly cost 5,000 jobs. The department store chain fell into administration this past April. According to Sky News, administrators are expected to announce the closure of the last 114 stores on Monday. The BHS debacle, which saw...

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