retail acquisitions news and archive

Former BHS bosses to pay 110 million pounds to creditors

Dominic Chappell, the former CEO of collapsed BHS, and his colleague at the time Lennart Henningson have been ordered to pay 110 million pounds to creditors after they were found to have breached their corporate duties. The ruling comes eight years after BHS fell into administration, when it was said that the company owed creditors more than one...

Member

Business

Retail Acquisitions on the brink of liquidation

London - Retail Acquisitions, the former owner of collapsed high street retailer BHS, is said to be on the brink of liquidation. Owned by former bankrupt entrepreneur Dominic Chappell, Retail Acquisitions first made headlines back in March 2015, when Chappell purchased BHS from Sir Philip Green Arcadia Group for 1 pound. Following the demise of...

Member

Business|UPDATE

Dominic Chappell to face High Court lawsuit over BHS

Duff & Phelps, the administrators for collapsed department store chain BHS are set to file a lawsuit on Monday against Dominic Chappell, former owner of BHS. The administrators accuse Chappell, who is head of the Retail Acquisitions consortium which acquired BHS for 1 pounds from Sir Philip Green's Arcadia Group last March, of failing to...

Member

Business|UPDATE

BHS creditors and landlords approve of CVA proposals

Struggling British department store group BHS has been saved - for now - as over 95 percent of its creditors and landlords voted in favour of a restructuring deal to cut its store rent for a number of the retailer's 164 UK locations earlier today. BHS needed 75 percent of its creditors to approve of its proposals for a company voluntary...

Member

Business

BHS secures cash injection

The new owner of BHS has secured a loan of around 65 million pounds from Grovepoint Credit as a cash injection to help them turn around the struggling high street store. Retail Acquisitions, which is backed by a number of investors, including brokers and lawyers, bought the loss-making department store from Sir Philip Green for 1 pound earlier...

Fashion

BHS launches new logo

High street chain BHS has launched a new logo, which contains the store's name in full underneath, British Home Stores. The new logo reveal comes as the company continues discussions with potential backers in the hopes of securing additional funding for its turnaround scheme. A spokesman for Retail Acquisitions previously confirmed the...

Member

Business

Retail Acquisitions seeks 70 million pounds to revive BHS

The new owners of high street fashion chain BHS are said to be in discussion with potential new backers in the hopes of raising up to 70 million pounds in funding. Retail Acquisitions, the small consortium which previously bought the struggling chain for 1 pound from Sir Philip Green, is in talks with a number of possible providers who can offer...

Retail|UPDATE

BHS to go head to head with M&S and Primark

The new boss at BHS, Darren Topp, has stepped up and made a solemn promise to restore the struggling retailer’s positioning on the high street. In order to ensure that the renewed BHS secures its spot, its new strategy will focus on keeping “Primark at one end [of the street] and Marks & Spencer at the other,” according to Topp. In his first...

People

BHS appoints interim chief executive

BHS’s new owners Retail Acquisitions has confirmed Darren Topp as its interim chief executive, following the departure of Richard Price who is leaving his role to head up Tesco clothing brand F&F. Topp’s appointment comes days after Retail Acquisitions took charge of the department store chain, which was sold off by Sir Philip Green on March 12....

Featured

Fashion

New BHS owners unveils future plans

New BHS owners, Retail Acquisitions headed up by Keith Smith, a former director of small-to-mid capital broking house Nabarro Wells, has stated that turning around the loss-making retailer is a “very big challenge” while adding that the business has “significant potential”. It was reported last week that the little-known consortium Retail...

Featured

Retail|UPDATE

Sir Philip Green offloads Bhs to Retail Acquisitions

Biting the bullet: Sir Philip Green has agreed to sell the Bhs retail chain for undisclosed sum to Retail Acquisitions, a newly created investment vehicle, disaggregating his Arcadia Group fashion empire and offloading the loss making retailer. In a statement published earlier Thursday morning, Sir Green announced that he had transferred control...