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| Version 0 | Version 1 |
|---|---|
| How Britain fell out of love with BHS - timeline | How Britain fell out of love with BHS - timeline |
| (about 2 hours later) | |
| 1928 | 1928 |
| A group of American entrepreneurs opens a general store in Brixton with the aim of creating a UK version of Woolworths. Nothing is priced at more than a shilling, although the price bar rises to five shillings the following year as British Home Stores moves into home furnishings. | A group of American entrepreneurs opens a general store in Brixton with the aim of creating a UK version of Woolworths. Nothing is priced at more than a shilling, although the price bar rises to five shillings the following year as British Home Stores moves into home furnishings. |
| 1933 | 1933 |
| BHS makes its debut on the London Stock Exchange. | BHS makes its debut on the London Stock Exchange. |
| 1977 | 1977 |
| BHS teams up with Sainsbury’s to create SavaCentre hypermarkets, opening the first store in Washington, Tyne and Wear. Sainsbury’s buys out BHS’s 50% share in 1989 and the name eventually disappears from UK high streets. | BHS teams up with Sainsbury’s to create SavaCentre hypermarkets, opening the first store in Washington, Tyne and Wear. Sainsbury’s buys out BHS’s 50% share in 1989 and the name eventually disappears from UK high streets. |
| 1982 | 1982 |
| BHS overhauls its stores, swapping supermarket-style rows for a layout closer to a department store. | BHS overhauls its stores, swapping supermarket-style rows for a layout closer to a department store. |
| 1986 | 1986 |
| BHS merges with Mothercare and Sir Terence Conran’s Habitat to become Storehouse plc. | BHS merges with Mothercare and Sir Terence Conran’s Habitat to become Storehouse plc. |
| 1989 | 1989 |
| Facing falling sales across the group, Storehouse reorganises its management, bringing in American retail executive David Dworkin as chairman. About 900 middle management jobs are lost. | Facing falling sales across the group, Storehouse reorganises its management, bringing in American retail executive David Dworkin as chairman. About 900 middle management jobs are lost. |
| 1995 | 1995 |
| BHS opens a branch in Moscow, putting it in the first wave of British retailers selling in the former Soviet Union. BHS’s offering of comfy cardigans and slippers later goes to Central Asia, the Middle East, Hong Kong and the Falkland Islands. | BHS opens a branch in Moscow, putting it in the first wave of British retailers selling in the former Soviet Union. BHS’s offering of comfy cardigans and slippers later goes to Central Asia, the Middle East, Hong Kong and the Falkland Islands. |
| 1998 | 1998 |
| BHS opens its first store dedicated to homewares in Bath. | BHS opens its first store dedicated to homewares in Bath. |
| 2000 | 2000 |
| Retail tycoon Philip Green pays £200m for BHS, taking the retail chain into private hands for the first time in decades. | Retail tycoon Philip Green pays £200m for BHS, taking the retail chain into private hands for the first time in decades. |
| 2002 | 2002 |
| BHS becomes part of the Arcadia empire, when Green snaps up the clothing group and its brands including Topshop, Dorothy Perkins and Burton. | BHS becomes part of the Arcadia empire, when Green snaps up the clothing group and its brands including Topshop, Dorothy Perkins and Burton. |
| 2005 | 2005 |
| Green awards himself a record-breaking £1.2bn payout from the Arcadia group. The dividend is paid to his wife, Tina, the legal owner of Arcadia, who resides in Monaco, meaning the Greens do not pay tax on the payment. | Green awards himself a record-breaking £1.2bn payout from the Arcadia group. The dividend is paid to his wife, Tina, the legal owner of Arcadia, who resides in Monaco, meaning the Greens do not pay tax on the payment. |
| 2006 | 2006 |
| Green sounds out Asda and Debenhams about buying BHS, as shoppers desert the chain for cheaper rivals, such as Primark, or revitalised department stores. He admits taking his eye off the ball after a failed attempt to buy Marks & Spencer two years earlier. | Green sounds out Asda and Debenhams about buying BHS, as shoppers desert the chain for cheaper rivals, such as Primark, or revitalised department stores. He admits taking his eye off the ball after a failed attempt to buy Marks & Spencer two years earlier. |
| 2014 | 2014 |
| BHS opens its first two food-only stores in Staines and Warrington and promises to beat the big four supermarkets by up to 10% on price. | BHS opens its first two food-only stores in Staines and Warrington and promises to beat the big four supermarkets by up to 10% on price. |
| 2015 | 2015 |
| BHS is sold to a group of City lawyers and investors, Retail Acquisitions, for just £1. | BHS is sold to a group of City lawyers and investors, Retail Acquisitions, for just £1. |
| Darren Top becomes chief executive of BHS, with a brief to turn the business around, including launching new concessions within the stores. | Darren Top becomes chief executive of BHS, with a brief to turn the business around, including launching new concessions within the stores. |
| Reports emerge of a £160m black hole in the company’s pension fund. Retail Acquisitions begins talks to raise £70m of funding. | Reports emerge of a £160m black hole in the company’s pension fund. Retail Acquisitions begins talks to raise £70m of funding. |
| 2016 | 2016 |
| February | February |
| BHS hires financial firm KPMG to help cut its rent bill on a number of problem stores, after poor Christmas trading. | BHS hires financial firm KPMG to help cut its rent bill on a number of problem stores, after poor Christmas trading. |
| March | March |
| BHS files a company voluntary arrangement, with landlords accepting sharp cuts to the rent on 87 of BHS’s 164 shops. | |
| April | April |
| 22 April: The company warns it still needs to raise £100m to pay staff wages and rent, and fund its turnaround plan. It is in talks with private equity firm Gordon Brothers over a £60m loan, and with the Pension Protection Fund over its £571m pensions deficit. | |
| 24 April: Weekend rescue talks with Sports Direct fail to come up with an agreement. | |
| 25 April: Almost 11,000 high street jobs are at risk with BHS set to fall into administration. . |