article_snippet: The billionaire had failed to turn The chain around due to fierce competition from rivals.
article_snippet: But The entrepreneur furniture and fashion – aimed at older customers – struggled to sell well enough to keep up with rivals.
article_snippet: But this failed to kick-start growth, and BHS continued to lose customers to cheaper rivals such as IKEA, as well as more upmarket competitors including John Lewis.
article_snippet: Sir Philip Green said The chain made a cash loss of £45million last year.
article_snippet: Analysts estimate that The chain lost 800,000 shoppers over the past five years.