BHS has been thrown a lifeline, as creditors of the embattled retailer voted to allow a cut in rents for some of its UK stores while the lease on its flagship Oxford Street store will be sold for £30m.
The rent proposal is part of a wider plan to try and turn the business around after being sold by Sir Philip Green last year for just £1.
Currently owned by Retail Acquisitions – a consortium of financiers, lawyers and accountants – the high street giant has amassed debts of more than £1.3bn after seven consecutive years of loss-making.
The agreement will Read full story ›
Source: The Drum
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