New BHS owners consider sale of 52 stores

The new owners of BHS have put the future of 52 stores under review just days after acquiring the department store chain.

Retail Acquisitions has appointed agents Jackson Criss and Charles Palmer Property to consider closing, selling or downsizing almost of a third of BHS’s 171 stores.

The underperforming stores, drawn up in a list revealed by Property Week, include high profile sites in Manchester, Leeds and Birmingham.

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BHS had already taken the decision to shut its Oxford and Foss Park stores ahead of Sir Philip Green’s sale of the business, announced on March 13.

Retail Acquisitions, which is headed by former racing driver Dominic Chappell and ex-broker Keith Smith, said it is now “looking at options for the property portfolio and its structure.”

“Property consultants have been appointed, but this does not mean that any leases that may be under review will be sold, and certainly does not mean that store closure is the only option,” the company said in a statement.

“Options could also include sub-letting under-utilised space or renegotiating payment terms.”




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