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BHS administrators have failed to find a buyer and will begin winding the company down, putting 11,000 jobs at risk, adminstrators Duff & Phelps has said.
BHS has 11,000 employees across 164 stores.
11 stores are in the North East, putting the jobs of around 550 employees at risk.
The North East stores are in:
- South Shields
- York (2) Coney Street and Monks Cross Retail Park
Philip Duffy and Benjamin Wiles, Managing Directors of Duff & Phelps, the administrators said:
Our thoughts today are with the employees. We thank them for their professionalism and hard work. We would also like to thank the great British public for helping us in our efforts to save BHS resulting in several weeks of significant sales.
As a result of the wind down all 163 stores will be in close down sale mode over the coming weeks and whilst continuing efforts will be made by the administrators to sell stores the jobs of 8000 members of staff are likely to go. A further 3000 jobs of none BHS employees who work in the stores may also be at risk.
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Supermarket chain Tesco have confirmed the locations of the 43 stores it plans on closing to cut costs, three of which are in our region:
- Bedlington, Tesco Superstore
- Whitley Bay, Tesco Express
- York Road Hartlepool, Tesco Express
90 jobs are at risk in Bedlington, 18 in Hartlepool and 15 in Whitley Bay.
But Tesco say these 123 positions are not expected job losses, because they will work with colleagues to try and find them alternative roles elsewhere and where that is not possible redundancy will be offered.
Tesco Chief Executive Dave Lewis said:
In January I announced that our performance as a business has fallen significantly short of where we would want it to be and that to protect the future of the business in the UK we would close 43 unprofitable stores.
The decision to close the stores has been exceptionally difficult to take. I recognise it will affect many hard working colleagues, our customers and local communities.
Our priority is to explain what this announcement means for our colleagues and wherever possible, offer them alternative roles with Tesco. We will continue to serve our customers through other local stores and our dotcom service."
Last year the chain came under fire for overstating their profits by £263m.
The decision is putting 2,000 jobs in danger nationwide.
Hundreds of jobs with some of the region's biggest employers will be on offer today, October 16, at the SHINE recruitment event at St James' Park.
Jobseekers can attend workshops and find out about some of the 1,000 vacancies available from employers, who include Tesco Bank, More Than and BT/Manpower, between 10am-4pm.
More than 400 people have signed up to take part in a 'talent showcase' where there is a chance to walk away with a job offer at the fair itself.
Final plans are being submitted to create Europe's largest potash mine. York Potash hope to build the £2bn mine on the North York Moors National Park. Campaigners argue it could ruin the environment but supporters say it would bring jobs.
Last year, the controversial plans were deferred till now. York Potash asked for more time to submit further details on the application - deferring the decision for a third time.
The number of people unemployed in the North East has risen by 1,000 to 132,000 in the period between May and July.
The region remains top of the unemployment league with almost one in 10 out of work.
Nationally, unemployment fell by 146,000 to 2.2million.
400 new jobs are coming to Teesside with the expansion of a vegetarian food factory.
Quorn Foods Limited says 100 people will be employed during the construction phase at its site in Billingham and a further 300 will be taken on once the expansion is complete.
The £30 million investment comes after a rise in demand for the meat substitute.