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

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Textiles | On 8th Dec 2016

R&D is key to textile industry’s growth: Kavita Gupta

Research and development is the key to the growth of the textiles...

Textiles | On 8th Dec 2016

China’s economy on track to meet growth expectations

China’s GDP has grown at 6.7 per cent in the first three quarters of...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search