Beleaguered department store chain BHS is reviewing the future of its Oxford Street flagship store and it could result in the retailer moving out of the West End site.
According to The Independent, the loss-making business has hired specialist estate agents Harper Dennis Hobbs and Jackson Criss to detail options for the site, which BHS has occupied for circa 40 years. It is understood that potential options being considered include subdividing the space with other retailers.
But Darren Topp, BHS Chief Exec, said that he wouldn’t rule out selling the store’s lease depending on the offer and confirmed that other retailers had already express interest in taking part of the space.
Sir Philip Green sold BHS to Retail Acquisitions for £1 three months ago and now the company insists that it has a three year turnaround plan ready to revive the British retailer. Topp has promised to boost performance and cited that after three weeks of trialling Claire’s Accessories in six stores, the results have been positive.