YORK could lose one of its largest city centre retailers as BHS falls into administration putting scores of local jobs at risk.

The high street chain, which has two stores in York, collapsed this afternoon after urgent talks to find a buyer over the weekend failed.

Administrators Duff & Phelps said "there was no alternative" other than to put the group into administration to protect it for all creditors, adding that BHS would continue to trade as usual while potential buyers are sought out.

In what is being hailed as the biggest retail demise since Woolworths went bust in 2008, the move puts doubt over the future of York's BHS branches in Coney Street and Monks Cross.

Staff in York declined to comment today, however the company's owner Dominic Campbell, said he will continue to work with the administrators to "find a solution post the administration".

York's two stores had already been deemed among the least viable by BHS as part of a company voluntary arrangement (CVA) agreed last month.

Landlords had voted to support proposals put forward by the retailer seeking a series of rent cuts in a last ditch attempt to avoid administration.

Under the CVA proposals BHS split its store portfolio into three categories, based on the viability and importance of each site.

York's stores joined 38 others classed as “Category 3”, deemed the least viable premises, where the retailer was looking to pay just 25 per cent of its current rent over the next 10 months.

Despite landlords voting to accept the CVA,BHS, which employs 11,000 staff and has 164 stores, then revealed it needed to find an additional £100 million to secure its future.

The funding was required despite BHS obtaining a short-term £62.4 million loan from Grovepoint last September, and a further £9.4 million from Gordon Brothers in February this year, as the firm ultimately reported losses of £85 million.

BHS was bought last year by a consortium called Retail Acquisitions, headed by Mr Chappell, for £1 from retail entrepreneur Sir Philip Green, the owner of the Arcadia retail empire.

The business has debts of more than £1.3 billion, including a pension fund deficit of £571 million, which proved a major stumbling block in the rescue talks.

The Coney Street branch of BHS has traded for almost half a century, having opened in 1968 on the site of the old Black Swan Inn, while the Monks Cross branch has been there since the shopping park opened in 1998.

*Have you been affected by BHS falling into administration, either as an employee or customer? If so contact Laura Knowlson at The Press on 01904 567144 or email laura.knowlson@thepress.co.uk