ARTICLE · 29 DECEMBER 2016

BHS: Where Are We Now?

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In our May 2016 bulletin we examined the well-publicised BHS pensions debacle. Since then, a considerable amount of time, effort and money has been spent in trying to reach a solution to the problems...

United KingdomEmployment and HR

Justin McGilloway

In our May 2016 bulletin we examined the well-publicised BHS pensions debacle. Since then, a considerable amount of time, effort and money has been spent in trying to reach a solution to the problems left behind after BHS's collapse, not least the underfunded pensions. As the curtain comes down on 2016, are we any closer to an acceptable solution for all stakeholders?

To recap...

Sir Philip Green acquired BHS in 2000 for £200m. In 2002 the company became part of the Arcadia group (which owns brands such as Topshop, Miss Selfridge and Dorothy Perkins). In the years following the acquisition by Sir Philip, BHS performed very well with profit before tax peaking at £102m over the year to 27 March 2004.

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