Home / Knowledge / News / Apparel/Garments / Retail Acquisitions acquires apparel retailer BHS Group
Retail Acquisitions acquires apparel retailer BHS Group
18
Mar '15
Retail Acquisitions Ltd has acquired apparel retailer BHS Group Ltd, which has 171 stores across the UK, significant assets, long-standing and loyal suppliers and great international franchise partners.

Philip Green, chairman of Arcadia Group, which owns BHS, said, “I am pleased that we have found a buyer in Retail Acquisitions Ltd who wants to develop the BHS brand.”

“Having acquired the business nearly 15 years ago in May 2000, one of my clear objectives in identifying a purchaser was ensuring their desire to take the business forward,” he added.

“The business has been handed over in a sound financial position with significant cash balances and am confident that Retail Acquisitions have a platform to grow the business,” he observed.

Chairman of Retail Acquisitions, Keith Smith said, “This is a fantastic opportunity to breathe new life into this iconic British high street brand.”

“We are convinced that with strategic and focused support, we will return BHS to profitability, and safeguard the workforce,” he too added.

He continued, “By backing the existing management and investing in their plan, we are confident that we can build upon many of the initiatives already in place.

“In addition, Retail Acquisitions Ltd will appoint a BHS chairman with significant retail experience and further retail turnaround experts in due course.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search