BHS to close after rescue bid fails

BHS Kirkcaldy - the first BHS to open in Scotland in 1964
BHS Kirkcaldy - the first BHS to open in Scotland in 1964

Department store BHS is to go into liquidation with the loss of up to 11,000 jobs after efforts to find a buyer failed.

The decision followed a lengthy bidding process aimed at saving BHS, which went into administration in April.

But none of the offers was judged acceptable by administrators Duff & Phelps, who blamed “seismic shifts” in the retail sector for the collapse.

All 163 BHS stores will be holding closing sales over the coming weeks.