Online And Overseas Businesses Of BHS, A British Department Store, Have Been Sold.

A failed UK

The online and overseas businesses of retailer BHS have been sold to Qatar group Al Mana.

The Doha based group, which specializes in dealing with BHS overseas stores, has agreed to acquire 72 international stores in BHS department store, in addition to BHS online business.

A spokesman told the media that the deal was negotiated in June 30th this year (2016).

In this (2016) April, BHS department store, which entered its bankruptcy administration, operates 163 cities in the United Kingdom, and operates 19 cities in 19 countries, including Saudi Arabia, Arabia, Kuwait, Qatar and Dubai, in partnership with 15 authorized agency partners.

In the early June of this year, Duff & Phelps management company began to end BHS's business in Britain after more than 80 years of operation, resulting in the loss of up to 11000 jobs.

Since it is necessary to ensure the company's future working capital and sell the clothing and household products retail department with various preferential terms, no one can complete the paction alone.

And efforts from lack of modernization.

BHS is also saddled with a deficit of 571 million pounds, struggling to survive with uncertain factors and rapidly changing competitive environment.

The Owner Retail Acquisitions said it would provide 160 million pounds of financing to help the supply chain reverse its fate, but could not provide the quota.

The company understands that its last financial year has recorded a loss of 85 million pounds ($120 million 300 thousand).

With CUK

The company and Courtaulds Brand Company have recently asked for entry into bankruptcy management, resulting in disputes arising from the closure of BHS department store, which has affected its suppliers.

The two companies merged in 2006 to manufacture and supply stockings, bras and underwear for brands and private brands to British and international retailers.