44% of BHS stores still empty since 2016 collapse

29-04-2019

Almost half of BHS stores have remained empty since its collapse into administration in 2016.

A total of 44 per cent of stores are still empty, according to the Local Data Company (LDC), after new research found that out of the 160 stores that closed, 70 units are still empty.

Moreover, real estate adviser Altus Group said that the average business rates bill for a department store for 2019/20, is £642,852.

This represents a third year cumulative rise of 25.9 per cent, which is an increase of £132,378 from the average bill in 2016/17.

In 2000, Sir Philip Green bought BHS for £200 million, which he then sold to Dominic Chappell in 2015 for just £1.

Meanwhile, in April 2016, after it was acquired by Retail Acquisitions, BHS entered administration following unsuccessful attempts to continue trading.

It eventually collapsed, and all stores were shut down by late August 2016 after failing to find a buyer.

Source: Retail Gazette