BHS has unveiled a new logo that spells out British Home Stores, as it continues talks to secure additional debt facilities to fund its turnaround plan.
The chain, which was bought for £1 by a little-known consortium called Retail Acquisitions in March, is in talks with several refinancing providers to raise between £65m and £70m as it begins to separate its financial functions from Arcadia.
Drapers understands that Sir Philip Green’s Arcadia issued a letter to suppliers saying it would no longer be warehousing BHS merchandise, which was originally expected to happen in January next year but has been moved forward to October and November of this year.
A spokesman for BHS said that it had always intended to separate functions from Arcadia and confirmed that this process was now underway.
The company is recruiting for around 45 head office roles, including various buying and merchandising positions, but an industry source said the firm was finding it harder than it anticipated to fill the vacancies.
It has recently appointed former Beales department chain boss Michael Hitchcock as interim chief financial officer.