BHS administrators sell part of the business to Al Mana Group

By

Barbara Santamaria

Published
Jul 1, 2016

More than 70 BHS stores and the online site have been sold to Qatari group Al Mana, in the first deal inked by the administrators to the retailer.

According to Sky News, Qatar-based Al Mana Group has acquired nearly all the international stores of BHS for an undisclosed sum.

This is the first agreement administrators Duff & Phelps have reached since the UK department store BHS collapsed into administration in April.

The future of further 164 UK-based stores remains unclear. Up to 11,000 jobs are at risk as industry experts believe it will be unlikely to strike a deal with a buyer for more than 50 stores.

Al Mana has licence agreements with international retailers such as Harvey Nichols, Zara, Mango and  Rebecca Minkoff to operate their stores in the Middle East.