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

antrobus

Confirmation that BHS has filed for administration.

http://www.bbc.co.uk/news/business-36123444

Tromking

Mistermeaner wrote: »

Pension defects mean nothing if you're employed by the state.

....and quite rightly so.

patman99

What stopped the guy who purchased it for £1 a year back from setting up a new company, transferring all the buildings, staff, stock and equipement to it, then placing BHS into administration?.

Think it dosn't happen?. That is exactley what my boss did. In fact, he then set up a new company that has a different name, but 'rents' everything from the company set up to replace the one he placed into br.

That way, we can run up huge debts, but no-one can take anything as the company owns nothing, not even a paper clip.

chewmylegoff

I was pretty surprised to read this news as I assumed that BHS, a shop which sells nothing that anyone wants, had gone bust and disappeared from the high street around 10 years ago. Who knew it was still going?!

Next thing you'll be telling me that Bejam and Bewise are still going somewhere.

mystic_trev

I'm waiting for Cameron to jump on the bandwagon, saying if brexit win M&S will be gone by the end of the year.

Generali

chewmylegoff wrote: »

I was pretty surprised to read this news as I assumed that BHS, a shop which sells nothing that anyone wants, had gone busy and disappeared from the high street around 10 years ago. Who knew it was still going?!

Next thing you'll be telling me that Bejam and Bewise are still going somewhere.

Didn't Bejam become Iceland? Who were Bewise? Don't remember them.

antrobus

Generali wrote: »

Didn't Bejam become Iceland? Who were Bewise? Don't remember them.

Bejam was bought by Iceland.

Google says Bewise were a 'value wear chain'. Went into administration in 2006. There is a Be-Wise Ltd that is still going, which I think is them. Some property left in the company and that's about it.

antrobus

Mistermeaner wrote: »

Public ownership is surely the answer. Pension defects mean nothing if you're employed by the state.
...

Depends on the state.

Tromking wrote: »

....and quite rightly so.

Sadly, as we have seen, nation states are just as capable of running out of money as everybody else.

theblagger

Welcome to the 21st century. The century where asset strippers are celebrated and workers queue up for pay day loans. Where obscene amounts of money are moved offshore by Captains of industry and zero hour contracts are presented as a "lifestyle choice".
We have become a country where it is acceptable for huge corporations to counteract a modest rise in the mininum wage by cutting hours and removing the pathetically small perks from the most vulnerable in their workforce.
Foodbanks and fraud just about sums us up these days.

Mistermeaner

And your proposed solution is..... ???