Turkish Businessman to Save British Home Stores

Two finalist bidders, Mahiroğlu and IKEA, will compete to purchase BHS, which will be sold through a sealed-bid tender. Previously, 30 bidding companies were eliminated. Mahiroğlu's potential purchase of BHS is expected to boost the sectors of Turkish ready-made clothing, home textiles and furniture. In addition to contributions to employment and exports, BHS will play a major role in promoting Turkish brands to the world if purchased by Mahiroğlu.
BHS employs 11,000 people in 164 stores, most of which are in European countries. The total size of its closed stores is 8 million square meters. The company has 1.3 billion pounds ($1.87 billion) in debt and 571 million pounds of pension deficit. Previously, Mahiroğlu purchased British women's clothing giant Select and saved it from a financial bankruptcy in 2007. Mahiroğlu is known as the most successful Turkish entrepreneur in the United Kingdom as he turned Select, which has more than 200 stores across the U.K., into a Turkish brand.(Daily Sabah)
BHS employs 11,000 people in 164 stores, most of which are in European countries. The total size of its closed stores is 8 million square meters. The company has 1.3 billion pounds ($1.87 billion) in debt and 571 million pounds of pension deficit. Previously, Mahiroğlu purchased British women's clothing giant Select and saved it from a financial bankruptcy in 2007. Mahiroğlu is known as the most successful Turkish entrepreneur in the United Kingdom as he turned Select, which has more than 200 stores across the U.K., into a Turkish brand.(Daily Sabah)
Last modified onSaturday, 06 May 2017 10:07
Latest from Admin TOA
- Melisa Oğuzcan, FED'in faiz artış kararı öncesi son bilgileri paylaşıyor
- Melisa Oguzcan Birlesmis Milletlerden bildiriyor
- Melisa Oğuzcan Washington,DC'den bildiriyor. Çavuşoğlu-Blinken görüşmesinden neler çıktı?
- The Latest Turkish-American developments by Melisa Oguzcan from White House
- The Gifted Photographer Joined TURKOFAMERICA Team