BHS Jobs Fears As Firm Set For Administration

[arista]

First Heading : Some BHS stores may close as some places they can not afford the rent

40 Stores are risk.


Today they went court
as in Big Dept


http://news.sky.com/story/1653364/bhs-to-slash-jobs-amid-battle-with-landlords



negotiations with landlords are
undertaken to reduce the rents substantially", adding
that it "hoped that the store closure number will be kept to a minimum".]

[BhS is to make nearly 400 staff redundant
as part of a restructuring aimed at stabilising the company's finances, Sky News learns. ]

[DemolitionRed]

I'm not surprised. If M&S and Matalan are in trouble, an old dated store like BHS isn't going to be thriving.

My local newsagent who's been open for 24 years is down on stock and tells me he's never hit such hard times and thinks he may have to close. Three shops on his row have already closed and another one is about to so things aren't looking good for the small guys either.

[Crimson Dynamo]

close the lot

a vile store

get rid

[arista]

close the lot

a vile store

get rid


But LT
on Ch5HD News
a older lady said its cheaper than M&S,

[Crimson Dynamo]

But LT
on Ch5HD News
a older lady said its cheaper than M&S,

Yes because cheap sh1t is cheaper

[Babayaro.]

close the lot

a vile store

get rid

My Brother works there, how dare you :nono:

[Crimson Dynamo]

My Brother works there, how dare you :nono:
Can he get a job at Greg's?

[Babayaro.]

I would imagine so

[arista]

The retailer fails to secure a critical £60m loan,
possible talks with Sports Direct
over the sale of some stores are ongoing.


http://news.sky.com/story/1684337/bhs-jobs-fears-as-firm-set-for-administration


On Monday
they should state whats going on

[joeysteele]

I think it sad another giant heading to go, my thoughts are with the staff who work there and their probable uncertain futures..

[arista]

I think it sad another giant heading to go, my thoughts are with the staff who work there and their probable uncertain futures..


Yes 11,000 workers

[waterhog]

very sad news. sign of the times.

[_Tom_]

Sky News now reporting that a company spokesperson has confirmed the retailer is going into administration. 11,000 jobs now officially at risk.

http://news.sky.com/story/1684617/bhs-goes-into-administration-spokesman-says

[Crimson Dynamo]

its just business, the store has had its day and cannot compete with online

[bots]

its been a badly managed business lacking vision and investment for years. It should be no surprise to anyone.

[smudgie]

When a business gets sold on for £1 you know it is in serious trouble.

[the truth]

the uk economy is going down the toilet after putting all its eggs in the monster corporate retailer basket, when the future is all internet. small businesses can adapt far quicker to changes, these big beasts are too big and cumbersome , change takes too long to happen...this is 11,000 of millions of similar retail jobs about to go...were in big trouble

[arista]

When a business gets sold on for £1 you know it is in serious trouble.


Yes Philip Green
the bugger

[billy123]

Hows the economy doing George?

Oh no wait you are drugged up to the eyeballs courtesy of the public.

http://usvsth3m.com/wp-content/uploads/2014/11/MiftnyD.gif

What sort of person is it that thought this government was a good idea :joker::joker::joker: ffs have a word with your conscience.

[waterhog]

if you are correct bobnot he wont need BHS but NHS - ohhhhhhhhhh its straight through for him - hes got £££££££££££££££££££££££££

[the truth]

Theyre bad but still better than the last labour government

[Rob!]

I get they're closing down, which is sad tbh. But what exactly does it mean if a company goes into administration?

[Crimson Dynamo]

I get they're closing down, which is sad tbh. But what exactly does it mean if a company goes into administration?

they have people to pay for a start, staff and suppliers, lots of stock to get rid of etc

they will appoint a specialist firm to do this

[Rob!]

Oh so they file for someone to pay off the debts they can't manage and then officially close down then basically?

[Crimson Dynamo]

Oh so they file for someone to pay off the debts they can't manage and then officially close down then basically?

they probably owe so many suppliers, the administrators will negotiate so much in the pound to repay them etc

they will shut up shop and try and make the most of a bad lot

[Shaun]

Every store I went in smelt like death so this is no surprise really. Don't think I ever used it apart from in a Christmas daze of "what to get the mother? How about a nice scarf?" madness

[arista]

They "could" then sell Everything at Half Price
that would get Cash in fast

[arista]

Every store I went in smelt like death so this is no surprise really. Don't think I ever used it apart from in a Christmas daze of "what to get the mother? How about a nice scarf?" madness



The Oxford Street one is not like that

[_Tom_]

I can't remember if it was Debenhams or BHS that I went into (a year or two ago now) but it was pretty outdated, the layout was confusing and illogical, and I didn't end up buying anything. So if that's BHS, then I'm not surprised.

[the truth]

big furniture stores are finished....even clothes stores are dying....even huge retail supermarkets may die....its all internet in future. we buy online they simply package and deliver

[Samm]

Didn't even know it was still around anyway

[Kizzy]

Oh so they file for someone to pay off the debts they can't manage and then officially close down then basically?

Yes they split the company sell the stuff worth the most and discard the rest....like the tories did with the UK over the last few yrs.

[DemolitionRed]

You can see the last filed accounts for BHS Limited, the operating company of the BHS group that is now in administration.
https://beta.companieshouse.gov.uk/company/00229606/filing-history

Its not a pretty picture.

[Kizzy]

I can't see Debenhams lasting long either, so sad for the staff at BHS our local one closed last year.

[bots]

BHS now set for liquidation putting 11,000 jobs at risk

http://www.bbc.co.uk/news/business-36437445

[Vanessa]

:worry: