Stevenage’s branch of BHS under threat of sale or closure
- Credit: Archant
The Stevenage branch of BHS is under review by the company’s new owners after being rated as ‘under performing’.
The store in The Forum is one of 52 stores nationally which owners Retail Acquisitions has highlighted for review.
This could mean that the site is either closed or sold off to another company to help pay for some of BHS’s debts.
The firm’s previous owner Sir Philip Green, who also owns TopShop and Miss Selfridge, sold the long-established chain for just £1 last month.
He had been keen to sell it off for some time after it recorded a £21 million loss last year.
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It also has a pension deficit of more than £100 million.
It is thought the sale of leases on the stores could raise an estimated £30 million for the firm which employed around 11,000 staff.
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It was originally known as British Home Stores and was established in London in 1928.