British Home Stores files for bankruptcy

In the biggest high street collapse in the UK for nearly a decade, BHS, one of the oldest chain of retail stores filed for bankruptcy on Monday and went into administration after failing to agree to a last-minute deal, putting 11,000 jobs at risk. British Home Stores (BHS), founded in 1928, which employs 11,000 people is being described as the biggest high street failure in the UK for nearly a decade since the demise of Woolworths in 2008.