Insolvency news and archive

Where did BHS and Austin Reed go wrong?

It has been a dark start to the week for Britain's high streets as both department store group BHS and clothing retailer Austin Reed fell into administration. Both their failures to remain relevant to consumers reflect the ever-changing retail landscape which sees more and more shoppers frequent out-of-town shopping centers and online retailers...

Management

Thousands of jobs at risk as BHS seeks rent cut for viable stores

The owners of struggling British high-street retailer, British Home Stores (BHS) may have to shut a quarter of its current stores if landlords are unwilling to work with them on a rescue deal to lower store rental fees, which places numerous jobs at risk. Together with advisor KPMG, BHS has proposed a radical restructuring of its store estate in...