The local branch of BHS will escape the impact of restructuring at its parent group that will see more than 350 people made redundant in the UK.
BHS said yesterday it may close dozens of stores in Britain in a step to revive its ailing business.
The under-pressure retailer is cutting 150 staff from its head office and 220 from its UK shops, while more jobs could be lost if it decides to roll out store closures.
But Nicholas Russo, a director of International Franchises Limited, which trades as BHS in Gibraltar, said the move would have no impact here.
“This morning I was in a conference call with the CEO [of BHS] who has advised me that the international business is not at all involved,” he told the Chronicle yesterday.
“BHS have had financial difficulties for a while now and it looks to me as this measure may at last put them on a strong footing going forward.”
“International Franchises has traded as BHS in Gibraltar for 30 years successfully and, as far as we are concerned, business is as usual and we have not seen any changes to our business model since the business was sold by Sir Phillip Green in early 2015.”
“We continue to trade from two great shops in Gibraltar with a wonderful staff and will continue to serve the local and tourist community with great product at great prices.”