UPDATED: Around 25 Island jobs are now at risk as British Home Stores (BHS) goes into administration.
The Island’s only BHS store could face closure as it is announced the 88-year-old nationwide retailer has started the process of going into administration today (Monday) with debts of more than £1.3billion.
Duff & Phelps have been appointed as administrators after ongoing talks with retailer Sports Direct failed.
It has been confirmed that BHS will continue to trade as usual whilst the administrators seek to sell the company as a going concern.
Nationally around 11,000 people are employed by BHS, which opened in Brixton in 1929.
The collapse of the company could be the biggest failure in retail since Woolworths closed in 2008 and Phones4U in 2014.
Dorothy Perkins last year moved from their High Street store into the two-floor BHS, which could potentially mean the Island will be without a BHS or Dorothy Perkins – a double blow for shoppers.
