British department store chain BHS has closed its final 22 stores, 88 years after they first launched. The chain was declared bankrupt in March, but these stores managed to survive until Sunday.
Controversial owner
BHS had more than 160 stores in the United Kingdom, but the guardians were forced to shut down 141 stores – including its flagship store in Oxford Street. After it had been declared bankrupt in March, the guardians tried to find a buyer, but no one stepped forward.
BHS, short for British Home Stores, was a familiar sight in the British shopping streets for nearly 90 years, but its turnover dwindled over the past few decades. It failed to invest enough resources and did not respond well to increased competition.
Sir Philip Green had acquired the chain for 200 million pounds (235 million euro) from Storehouses in 2000, but had to sell it for a symbolic pound in 2015. Some people now feel Green’s knighthood should be taken away on the grounds of his mismanagement that brought down the illustrious chain.
