BHS 'could file for administration' threatening 11,000 jobs on Monday

antrobus

The BBC now reports that BHS is to go into liquidation.

http://www.bbc.co.uk/news/business-36437445

vivatifosi

IoD on BHS Failure:

https://www.theguardian.com/business/2016/jun/03/bhs-collapse-iod-lord-myners-accuses-sir-philip-green

The IOD chief, Simon Walker, told BBC Radio 4: “Sir Philip Green is a very high-profile business leader. He is the person who is on the frontpage with Kate Moss on his arm and who has a £100m superyacht and so on. When someone like this ends up behaving like this, people think that’s how business is, and it’s not. The majority of business leaders are people who are more likely to have mortgaged their homes to keep their company going than to own this kind of lavish thing.”

Asked about the calls for Green to help shore up the pension fund, Walker said: “He certainly has moral responsibilities and we need a proper investigation.

“You can’t just get yourself off the hook by selling the business to someone who has been bankrupt three times and is a former racing driver with no retail experience. BHS was probably going to fail anyway. But it is the manner of its failure and the fact that it ends up dumping huge liabilities on to the taxpayer that is a problem.”