All of British retailer BHS's stores to close in next four weeks - Sky | Reuters - Firstpost
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All of British retailer BHS's stores to close in next four weeks - Sky | Reuters

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LONDON The remaining shops belonging to Britain's collapsed department store chain BHS will close down in the next four weeks at a potential cost of 5,000 jobs, Sky News said on Saturday.

Loss-making BHS fell into administration in April and Sky said administrators were expected to announce the closure of the remaining 114 stores on Monday.

BHS's demise left its pension fund with a deficit of 571 million pounds ($809 million) and came a little more than a year after retail tycoon Philip Green sold it to Dominic Chappell's Retail Acquisitions Ltd for a nominal sum.

Green has faced widespread criticism for his role in the demise of BHS and in June was grilled for six hours by British lawmakers when he admitted he had erred in selling the business to Chappell, a serial bankrupt with no retail experience.

Parliament's Business and Work and Pensions committees are due to publish their report on BHS's collapse on Monday.

There have been calls for Green to be stripped of a knighthood he was awarded in 2006 and the BBC reported on Saturday that officials were now reviewing whether the honour should be revoked.

(Reporting by Michael Holden; editing by Adrian Croft)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Jul 23, 2016 23:36 IST

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