End of an era as BHS prepares to shut on Oxford Street

The closure will be followed by that of all the remaining branches by August 20, bringing to an end 88 years on the high street.

The lease to the Oxford Street BHS store was sold in early April to its landlord, Abu Dhabi’s ruling family.

As revealed by Retail Week, Polish fashion giant Lubianiec Piechocki i Partnerzy (LPP) has agreed a lease on part of the premises to bring its Reserved fashion fascia to the UK.

BHS’s demise came just a year into its ownership by Retail Acquisitions after Sir Philip Green sold the retailer for £1 in March last year.

Since its collapse, BHS and its former directors and owners have been the subject of a joint select committee inquiry into how the department store group went under.

Its collapse left a £571m pensions black hole. The Pensions Regulator and Pension Protection Fund are now locked in negotiations with Green about how to correct the deficit, which affects 20,000 BHS pensioners.

Investigations into BHS continue. Select committee chair Frank Field has called on the Serious Fraud Office to investigate Green and, earlier this week, new joint administrator FRP Advisory appointed law firm Jones Day to investigate the conduct of BHS directors. Jones Day will also examine financial transactions before and after Green sold the department store business to Retail Acquisitions.