High Street retailer BHS is to file for administration on Monday, threatening almost 11,000 jobs. BHS representatives have told the BBC that it will go into administration. It comes after sources close to the company's owners admitted that "things don't look good". Talks with Sports Direct to sell some of BHS's 164 stores collapsed over the weekend, and it is understood any buyer would do so only if it did not have to take on the £571m pension deficit.

http://www.bbc.co.uk/news/business-36123444

Austin Reed enters administration, putting 1,200 jobs at risk

http://www.bbc.co.uk/news/business-36137226

Menswear retailer Austin Reed has entered administration, putting almost 1,200 jobs at risk. A statement from the administrators blamed a "challenging" retail market and cash flow difficulties. The company, which has 100 standalone stores and is stocked in a further 50, has struggled to compete and has seen its sales fall. Austin Reed began in 1900 as a tailor and counted Winston Churchill as a customer. "Austin Reed is a well-regarded and iconic brand," said Peter Saville, one of the newly appointed administrators. "We are confident that it is an attractive proposition for a range of potential buyers."

BHS: MPs plan to question Sir Philip Green

http://www.bbc.co.uk/news/business-36137574

Former BHS owner Sir Philip Green is expected to be called to appear before MPs to face questions over the collapse of the retailer into administration. Work and pensions committee chair Frank Field told news agencies that he was sure Sir Philip "will be invited". Sir Philip owned BHS, which went into administration on Monday, for 15 years until selling it for £1 in 2015. The committee will investigate how the collapse of BHS will affect the Pension Protection Fund.

Former BHS owner Dominic Chappell preparing bid for retailer

http://www.bbc.co.uk/news/business-36150192

The former BHS owner, Dominic Chappell, says he is preparing a bid to buy BHS out of administration. He told the BBC the administrators had been informed and talks with US based investors were at a "mature" stage. However, a senior retail source also informed the BBC they were "extremely sceptical" about the move, given Mr Chappell's recent track record.

BHS inquiry chairman 'should resign'

http://www.bbc.co.uk/news/business-36217170

The former owner of BHS, Sir Philip Green, has called on the chairman of a Commons committee examining the collapse of the UK chain to resign. Frank Field, of the Work and Pensions Committee, said in an interview he would recommend stripping Sir Philip of his knighthood if he did not repay £571m to the BHS pension fund. Sir Philip said Mr Field should stand down "as he is clearly prejudiced".

Austin Reed enters administration, putting 1,200 jobs at risk

http://www.bbc.co.uk/news/business-36137226

Menswear retailer Austin Reed has entered administration, putting almost 1,200 jobs at risk. A statement from the administrators blamed a "challenging" retail market and cash flow difficulties. The company, which has 100 standalone stores and is stocked in a further 50, has struggled to compete and has seen its sales fall. Austin Reed began in 1900 as a tailor and counted Winston Churchill as a customer. "Austin Reed is a well-regarded and iconic brand," said Peter Saville, one of the newly appointed administrators. "We are confident that it is an attractive proposition for a range of potential buyers."
All 120 Austin Reed stores will close by the end of June at the cost of 1,000 jobs, the administrator said. AlixPartners said it would wind down the menswear retailer as no viable offers had been received for the business.

http://www.bbc.co.uk/news/business-36416617

BHS to be axed after failure of final efforts to save the department store chain

http://www.mirror.co.uk/news/business/bhs-axed-after-failure-final-8105682

BHS is to be wound down with 11,000 staff facing the axe after a last-ditch bid to find a buyer failed. Administrators for the failed department store chain revealed plans to shut all 163 shops over the coming weeks. Billionaire Sir Philip Green , who controversially offloaded the chain last year, claimed he was “saddened and disappointed” by its demise. But the tycoon was left facing serious questions about his role, with thousands of BHS staff now facing a big cut in their pensions.

BHS: Sir Philip Green vows to sort out pensions 'mess'

http://www.bbc.co.uk/news/business-36536530

The former owner of BHS, Sir Philip Green, has vowed to sort out the pensions "mess" that followed the collapse of the retailer last month. The billionaire told MPs that his advisers were working on a "resolvable and sortable" solution for 20,000 members of the BHS scheme. But he declined to give full details, saying a plan was a week or two away.

My Local retailer faces administration after Morrisons sale

http://www.bbc.co.uk/news/business-36592776

The owner of the My Local convenience stores chain, sold by Morrisons last September, may put the retailer into administration. The Usdaw union said Greybull Capital has lined up accountancy firm KPMG to be administrator for the 120-store business, which employs 1,650 people. Joanne McGuinness, Usdaw national officer, said she is in talks to try to get staff the best deal.

BHS to be axed after failure of final efforts to save the department store chain

http://www.mirror.co.uk/news/business/bhs-axed-after-failure-final-8105682

BHS is to be wound down with 11,000 staff facing the axe after a last-ditch bid to find a buyer failed. Administrators for the failed department store chain revealed plans to shut all 163 shops over the coming weeks. Billionaire Sir Philip Green , who controversially offloaded the chain last year, claimed he was “saddened and disappointed” by its demise. But the tycoon was left facing serious questions about his role, with thousands of BHS staff now facing a big cut in their pensions.



The last BHS stores are set to close their doors for the final time, ending an 88-year presence on the High Street.
The closure of the final 22 shops around the UK comes after the retailer was placed into administration in March but failed to find a buyer.
Previous owners Dominic Chappell and Sir Philip Green have been criticised for mismanaging the chain and failing to protect the company pension scheme.
Administrators have already made 141 store closures over recent weeks.
These included its flagship store on Oxford Street in London's West End.

http://www.bbc.com/news/business-37207481

Bummer. All the good stores are closing.

Tesco Direct closure puts 500 jobs at risk

http://www.bbc.co.uk/news/business-44211616

Tesco plans to close its Tesco Direct website that sells general merchandise, putting 500 jobs at risk. The retailer said the non-food website was a "small, loss-making part of the business" and had "no route to profitability". Tesco said the site faced high delivery and marketing costs that meant it could not work as a standalone business. It will close the Direct site on 9 July and the Fenny Lock distribution centre in Milton Keynes in late August. The decision means about 500 workers are now at risk of redundancy.

M&S to close 100 stores by 2022

http://www.bbc.co.uk/news/business-44197128

Marks and Spencer plans to close 100 stores by 2022, accelerating a reorganisation that it says is "vital" for the retailer's future. Of the 100 stores, 21 have already been shut and M&S has now revealed the location of 14 further sites to close. Under its plan, M&S wants to move a third of its sales online and plans to have fewer, larger clothing and homeware stores in better locations. The latest closures will affect a total of 872 employees.

M&S to close 100 stores by 2022

http://www.bbc.co.uk/news/business-44197128

Marks and Spencer plans to close 100 stores by 2022, accelerating a reorganisation that it says is "vital" for the retailer's future. Of the 100 stores, 21 have already been shut and M&S has now revealed the location of 14 further sites to close. Under its plan, M&S wants to move a third of its sales online and plans to have fewer, larger clothing and homeware stores in better locations. The latest closures will affect a total of 872 employees.
Marks and Spencer has suffered a big fall in annual profits following a costly store closure plan. Annual pre-tax profits fell by almost two-thirds to £66.8m as sales of food, clothing and homeware all declined.