BHS has secured a loan from a subsidiary of investment firm Gordon Brothers, which formerly invested in a rescue package for the Blockbuster video chain, in order to boost its BHS Food concept.

BHS Food is set to put the former Arcadia stable-mate in a stronger position to contend with the likes of John Lewis and Debenhams. The chain has also hired KPMH to help restructure the company, with plans to strategically reduce the 170-store estate to profitable stores only. The restructure is being funded by a  loan of £65 million, which it received in September.