Profit & loss, margin, cash flow - all in one article:
BHS stores threatened with closure as troubled retailer seeks rent cuts BHS is battling landlords to reduce its rent costs Credit: ALAMY Christopher Williams , Chief Business Correspondent 3 March 2016 B HS has appealed to creditors for permission to enter a form of insolvency that could lead to the closure of dozens of stores and loss of hundreds of jobs, as the High Street stalwart fights for survival. The retailer has submitted proposals to the High Court for a Company Voluntary Agreement (CVA) in an attempt to drive down rent costs for 87 of its 164 stores. Preparations for the proposals, made by BHS on advice from KPMG, were revealed by The Telegraph last month . BHS said that under a CVA it would seek “substantial” rent reductions at 40 stores that will otherwise be closed after a minimum period of 10 months. KPMG said the retailer will pay 25pc of the rent due on the stores. The retailer’s attempts to negotiate cuts with institut...