BHS, the 88-year-old department store chain which collapsed into administration in April, is now facing liquidatation at the potential cost of 11,000 jobs after the administrators said they were unable to locate a buyer.
The administrators, Duff & Phelps, had been widely expected to name a new BHS owner today, with a consortium fronted by the UK retail veteran, Greg Tufnell, hotly tipped to take control of the chain.
But in a surprise announcement, Duff & Phelps said it had not been impossible” to agree a sale because the prospective buyers lacked the “working capital” to seal the deal.
“Despite the considerable efforts of the administrators and BHS senior management, it has not been possible to agree a sale of…
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