The new owner of department store chain BHS, Retail Acquisitions, has appointed Aidan Treacy as its new chief financial officer.
Mr Treacy, described as a “turnaround expert” was most recently an associate director at Essendon Group, and spent four years as finance director of European food company Unigate.
“Joining the already strong entrepreneurial team at Retail Acquisitions, and working with the fantastic retailers leading BHS in its turnaround plan, is the most exciting opportunity in the UK for a turnaround specialist like me,” Mr Treacy commented.
He added that all those involved are “determined to renew this iconic high street brand”.
BHS was sold to Retail Acquisitions in March, a sale that made Sir Philip Green a nominal £1 in profit.
In September the British retailer signed a loan agreement for £60 million with Grovepoint Credit. BHS announced this would contribute to its working capital which was in excess of £85 million, and would “enable it to modernise and reinvigorate the customer experience.”
