BHS Wins Backing For Rent Cut Survival Plan

Loss-making high street chain BHS has won approval for a store rent reduction plan in a deal that it said "ensures the continuation of the group". The survival plan, aimed at preventing further store closures at the fashion and homewares retailer, was backed at a key meeting by creditors owed money by the business, including store landlords. It comes a year after retail tycoon Sir Philip Green sold BHS to its current owner Retail Acquisitions for £1.