Business

Belfast BHS among last to close this weekend

The remaining BHS stores will close this weekend
The remaining BHS stores will close this weekend The remaining BHS stores will close this weekend

THE Belfast BHS outlet is among 22 stores set to shut this weekend as the doomed retailer disappears from the UK high street after 88 years.

Adminstrators Duff & Phelps and FRP Advisory have already overseen 141 closures over recent weeks, including BHS's flagship Oxford Street store in London's west end.

The department store's collapse in April has affected 11,000 jobs, 22,000 pensions, sparked a lengthy parliamentary inquiry and left its high-profile former owners potentially facing a criminal investigation.

Retail billionaire Sir Philip Green has borne the brunt of the public fallout, having been branded the "unacceptable face of capitalism" by furious MPs.

Sir Philip owned BHS for 15 years before selling it to serial bankrupt Dominic Chappell for £1 in 2015.

Sir Philip has come under fire for taking more than £400 million in dividends from the chain, leaving it with a £571 million pension deficit and for selling it to a man with no retail experience.

Veteran Labour MP Frank Field has asked the Serious Fraud Office (SFO) to launch a formal investigation into the pair to ascertain if any criminal wrongdoing occurred during the sale of the chain and throughout their respective ownerships.

It has also emerged that Mr Field is probing Sir Philp's Arcadia retail empire, which includes Topshop.

John Hannett, general secretary of the shopworkers' union Usdaw, said: "Wherever the blame lies for the demise of this once great British retailer, it certainly is not with the staff who are paying a high price for corporate decisions that have led us to where we are today."