Sir Philip Green hands over high street retailer's leases to a discount fashion chain, putting 350 jobs at risk.
Sir Philip Green has sold ten British Home Stores (BHS) branches and arranged for the leases to be taken over by discount clothing retailer, Primark.

A total of 350 employees have now entered into a period of consultation following the announcement on Friday and could lose their jobs as a result of the deal. It is unknown if they will be transferred to other stores in the Arcadia Group or be offered a job with Primark.

The closures will be staggered over the next 12 months. The stores earmarked for closure are said to include Harrogate, Worcester, King's Lynn, Guildford, Folkestone and Winchester.

BHS, which merged with the Arcadia Group last year, was acquired by Sir Philip for £200m in 2000. At the time, he stated that the business remained profitable. There are 185 outlets in the BHS portfolio.

Despite the closures Sir Philip reportedly still intends to open six new BHS stores.