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Duff & Phelps

BHS’ international and online assets purchased by Qatar-based group…

The Qatari-based group, Al Mana, has confirmed that it will acquire more than 70 BHS overseas stores and its website in a new deal which coincides with an existing franchise agreement.

Although it is unclear as to what impression the deal would have on BHS head office staff members — as well as the retailer’s 164 UK stores — the deal has reportedly been signed by BHS administrators, Duff & Phelps, whom are reportedly still in discussions with other potential buyers of the remaining BHS stores.

The group said in a statement: “Al Mana intends to enhance the retail offer, expand into new territories and develop the online presence of the brand. The British heritage of BHS is one of quality and value, and we are confident that with this acquisition, such a legacy will grow and succeed in new markets. The potential growth opportunities are very exciting.”