article_snippet: The billionaire was bought yesterday by a little-known investment firm called Retail Acquisitions, raising fears for the jobs of 11,000 staff in 171 BHS stores across the country.
article_snippet: The entrepreneur bought The chain in 2000 when The entrepreneur was called British Home Stores.
article_snippet: The entrepreneur joined Topshop, Miss Selfridge, Dorothy Perkins and Burton as part of The entrepreneur Arcadia Group.
article_snippet: Recent attempts to breathe new life into The chain included introducing food halls in some stores, opening new cafes and selling clothes from some of Arcadia’s other brands.
article_snippet: It is a challenging marketplace and BHS is in the middle of the market at a time when everyone is discounting.
article_snippet: Retail Acquisitions is a new business set up by five directors with little experience in the sector.
article_snippet: Mr Smith said: ‘This is a fantastic opportunity to breathe new life into this iconic British high street brand.
article_snippet: We are convinced that with strategic and focused support We will return BHS to profitability and safeguard the workforce.’
article_snippet: Neil Saunders, a director of research firm Conlumino, said: ‘On the positive side, it is likely this iconic British high street brand will be reinvigorated and see some investment.