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Britain's BHS to Enter Administration, Risking 11,000 Jobs

  • Duff & Phelps appointed after negotiations to find buyer fail
  • Billionaire Philip Green sold BHS for a pound in March 2015
A BHS store in London.

A BHS store in London.

Photographer: Simon Dawson/Bloomberg
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BHS Group Ltd. appointed administrators to protect against insolvency, putting 11,000 jobs at risk in what would be the biggest U.K. retail collapse since Woolworths Group Plc in 2008.

Advisory firm Duff & Phelps was appointed after failed negotiations to find a buyer, according to an e-mailed statement. The move also reflects a lack of success in selling property to ease financial strains on the company. BHS said a lower-than-expected cash balance means it’s “very unlikely” to meet all contractual payments.