Restructuring specialist Hilco has been appointed as BHS’s liquidator after a last ditch attempt to save the struggling retailer failed earlier today (June 2).
Hilco will assist the administrator Duff & Phelps in “extending the viable trading period of the store network in order to realise maximum returns for creditors.”
Paul McGowan, chief executive of Hilco said: “Our extensive experience in the European retail sector means we are well placed to support Duff & Phelps, and we will work alongside them in this complex situation.”
Workers at the chain’s headquarters on London’s Marylebone Road were called into a meeting at 2pm today to be told the news. BHS employs around 8,000 people and has 163 stores across the UK. A further 3,000 workers that are not employed by BHS but who work in the stores may also be at risk.