11,000 job losses feared amid anxiety that BHS could file for administration
- Credit: PA
A total of 11,000 jobs may be at risk amid fears the high street chain BHS could file for administration by Monday.
A spokesman, who could not give details, said a statement is expected 'sometime tomorrow about BHS's future'.
A call to bring in the administrators would end 88 years of trading by British Home Stores, one of the UK's most recognised high street brand names.
It would also be the biggest retail failure since Woolworths folded in 2008 with the loss of almost 30,000 jobs.
Sports Direct has been in talks to buy some of BHS's 164 stores but it is understood any company would only buy the shops if it did not have to take on its £571 million pension deficit, according to the BBC.
You may also want to watch:
Entrepreneur Sir Philip Green, who owns Topshop, sold BHS last year for £1.
A statement was posted on the BHS website on Friday which said: 'BHS would like to advise that despite some press speculation it is not in, nor has applied to go into administration.
- 1 Roads flooded on east coast after heavy rain
- 2 Two Norfolk villages named among most beautiful to visit in England
- 3 Man put hidden camera in bedroom to spy on wife
- 4 Machinery sale marks end of family's 100-year farming history
- 5 Driver taken to hospital after four-car crash on key road into Norwich
- 6 Man in critical condition after being stabbed in Thetford
- 7 Robbers knock out boy, 14, and steal trainers from his feet
- 8 Unlikely new use for city's Samson and Hercules building
- 9 'Pray for Paul today' - wife's plea as gallbladder op victim faces surgery
- 10 Woman taken to hospital following crash on A146
'The website is operating and taking orders as usual.'
A spokesperson at the Norwich store on St Stephens Street declined to comment.
The fashion and homewares store was thrown a lifeline last month when creditors backed two company voluntary arrangements (CVA) designed to revive its ailing business by cutting costs and preventing widespread store closures.
The company said the immediate future of the firm was secured when 95% of creditors and landlords voted in favour of a CVA for BHS Limited, which represents 125 stores.
A second CVA for BHS Properties Limited - which oversees 23 BHS stores - was also voted through with a majority of 75%.