Fate Of BHS Expected To Be Decided Within The Next 24 Hours

The future of the failed BHS chain could be decided within the next 24 hours as administrators look to finalise a rescue deal for the business.

A report by Sky News said that Duff & Phelps held further discussions yesterday with the Portuguese-backed consortium known as the Richess Group which is being led by Greg Tufnell, a former managing director of Mothercare and Burton. It is hoped a deal will be announced shortly, although Sky News sources suggested that the prospects of an agreement remained “in the balance”, with proof of Richess’s funding still to materialise.

If a deal cannot be struck to acquire BHS out of administration by the end of the week, it is expected that the business will be handed to liquidators, a move that would threaten around 11,000 jobs.