Sunday, October 17, 2021

Investment could see some BHS stores reopen in the UK

Overseas investment could see BHS branches reopen on the high street.

An investment group based in Doha called Al Mana has reportedly considered opening new BHS branches in the UK according to The Gaurdian.

Al Mana purchased 70 international BHS stores and the online part of the company in June during its public collapse.

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The investors are looking for a partner in the UK to help run a “handful” of branches. Al Mana currently run stores for Mango, Harvey Nichols and Zara overseas.

BHS failed to secure any UK investment in April after it went into administration and 11,000 staff lost their jobs, leaving a pension deficit of £571 million.

“The group‘s vast expertise, global reach and experience in retail will benefit this new acquisition into a steady and profitable operation,” read a statement on Al Mana‘s website following its purchase of BHS in June.

“Al Mana intends to enhance the retail offer, expand into new territories and develop the online presence of the brand.”

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