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Almost half of BHS stores still empty

A total of 44% of BHS stores are still empty after the retailer collapsed into administration three years ago, new research has found. 

The findings by the Local Data Company (LDC) show that out of the 160 stores that closed, 70 units are still empty.

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

This represents a third year cumulative rise of 25.9%, up by £132,378 from the average bill in 2016/17.

BHS was bought by billionaire Sir Philip Green for £200m in 2000, but he sold it in 2015 for just £1.

In April 2016, just 13 months after it was purchased by Retail Acquisitions, BHS entered administration following unsuccessful attempts to continue trading. It was eventually wound down, and all stores were closed by late August 2016 following failed attempts to find a buyer.

 

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