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[Libmembers] NEC Statement - The demise of the BHS store chain
The Liberal Party has observed the sad spectacle of the potential failure of BHS, an iconic but now indebted high street chain with over 11000 employees and 164 stores.

The demise of this once major retail giant has again highlighted a whole host of issues revolving around the private sale of troubled businesses, unsustainable dividend payments, underfunded pension liabilities, and the difficulties of turning round traditional bricks and mortar businesses.

It is only right that questions are belatedly being asked of those most closely involved in the long term running of the business and previous sales. These relate to its proper management, proper long-term investment in the business and the accumulation of over 1.3billion pounds of debt including a potential pension’s deficit of almost 600million pounds.

Opaque take-overs which do not sustain businesses, nor employment or economic activity are of no value to any national economy.

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