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LONDON, 25th April 2016- Commenting on the announcement that BHS has gone into administration, Damian Sumner, head of Retail Agency at JLL, said: “The size and configuration of some of the stores has made it difficult for BHS to effect change through sub-letting to other operators without landlord assistance. It’s quite clear that many Landlords have been putting plans in places for their portfolios since BHS was sold to Retail Acquisitions.
“BHS being in administration will be good news for discounters such as Home & Bargains, B&M, Poundworld as well as the discount grocery chains. Clothes retailers such as Primark, H&M and Next have also been eyeing up some stores. They will now be able to agree deals with landlords at affordable levels of rent and some will be seeking to negotiate freehold deals. While there will be some Landlord package deals, many will be done on an individual basis with landlord’s seeking to break up awkwardly configured space.”
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