Beleaguered high street department chain BHS will file for administration today, threatening thousands of jobs across the south.
A spokesman for the retailer said the 88-year-old business will call in administrators after being unable to secure a rescue package to save the firm. A formal announcement is expected just before noon.
BHS was bought last year by a consortium called Retail Acquisitions for £1 from retail entrepreneur Sir Philip Green.
The retailer has debts of more than £1.3 billion, including a pension fund deficit of £571 million.