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News Release

London

JLL comments on impact of BHS liquidation


Commenting on the announcement that BHS has gone into liquidation, Damian Sumner, head of Retail Agency at JLL, said: "The long and drawn out death of BHS is a sad story for British retail.  We will now see a scramble from discount retailers to get hold of a large majority of the stores, with the weakest stores closing immediately. Given this has been on the cards for a while, in many cases the liquidator might seek to put interested parties on a licence immediately.

 "This announcement at least gives landlord's clarity so they can now put into place their plans and gives retailers a clear and affordable route to deliver deals. The key issue with the stores will be repairing and reconfiguring them to fit new needs.  It's clear that the management of the company and its failure to innovate at a rapid enough pace are the main reasons behind the lack of buyers and bids of the company."