Bidder promises to keep capital in BHS as staff launch survival ‘crusade’
BHS BIDDER Yousuf Bhailok, a Preston-based millionaire, has promised not to extract money from the retailer for three years if he is successful.
Mr Bhailok is one of several potential bidders who have applied to administrators Duff & Phelps to take over whole or part of the retailer.He is behind investment vehicle Retail Revive.
Ikea, the Co-operative and B&M have applied to take over certain assets, whilst Mike Ashley’s Sports Direct and Edinburgh Woollen Mill are vying for the whole business.
This comes as staff at the retailer, which entered administration only weeks ago, launched a #SaveBHS campaign to prevent the brand being lost from the high street.
An 100-foot-tall image was projected onto Blackfriars Bridge, Marble Arch and Wellington Arch in London as well as the Marylebone Road, London head office.
Tony Holdway, marketing and creative director of BHS said: “The #SaveBHS campaign speaks on behalf of the 11,000 staff at risk and our millions of customers all over the UK who do not want to see another British institution disappear from the great British high street.
“We have received overwhelming support from staff, customers and suppliers, since the announcement. These are people who have shopped with us, worked with or for us, often for many years, and always saw BHS as a permanent fixture on their high street.”
‘We ask that everyone join us in support of British Home Stores, tweet or Instagram us with your messages using #SaveBHS. We do not intend to go down without a fight.”
