BHS, known majorly for selling apparels and households items, is seeking new buyers for its 160 stores across the UK.
Ever since the fashion retailer shut down all its stores after collapsing into administration back in August 2016, at least one of its 4 stores on the high street has remained vacant.
Search for new buyers has been tough for the retailer over the last 4 years, which has gained momentum ever since pandemic has hit the globe.
The Local Data Company, or LDC, found that while less than half of its stores have been reoccupied, remaining half has been brought down.
As per media reports, a local buyer recently bought BHS’ property on Chapel Street in Southport for £500,000.
While fashion retail stalwart Primark has taken over nearly 21 per cent of its stores since BHS went into administration, Next has also reoccupied 4 BHS sites.
Other retail bigwigs like H&M, B&M and Poundland have also acquired some of the stores of the British retailer.
Besides some of its stores have been converted into flats; take for instance one of the BHS stores in Stevenage’s town centre that has been converted into 277 new flats.
There’s a lack of demand for new units in these tough times and it has only made BHS’ task of getting new buyers more taxing.
It will be interesting to see where this search leads to for BHS in the coming months as the retail world continues to battle the pandemic crisis.
Founded in 1928, the retailer also has 74 international stores in several countries including Russia, Dubai and Saudi Arabia, among others.
