BHS (British Home Store’s) in the UK has announced that they may need to close 52 ‘struggling’ stores in order to reduce costs.
BHS profits have been falling due to low consumer spending and may close between 40 – 52 stores UK wide. This will effect hundreds of jobs.
BHS was founded in Brixton, in 1928, and was previously a constituent of the FTSE 100 Index, but was bought by Sir Philip Green in 2000 and taken private. The company became part of Green’s Arcadia Group in 2009.
As the global economy sets to slow down, with some specialists predicting a complete collapse of the US dollar in the coming few months, fears grow that we may see similar moves conducted by other retail stores, worldwide!
SEE: Gerald Celente explains – Global markets and the imminent collapse of the US Dollar.
With so much misinformation from the main stream media, it is difficult to understand exactly what is happening to the global economy.