High street chain BHS is going into administration, putting 11,000 jobs at risk, a spokesman for the company has told Sky News.
The representative told Sky's Ashish Joshi, who is outside the company's headquarters in central London, that an announcement will be made at 11.30am and "the administrator will speak afterwards".
When asked to confirm if BHS had gone into administration, the spokesman said: "Yes, the process has started."
The collapse could potentially be the biggest retail failure since Woolworths folded in 2008 with the loss of almost 30,000 jobs.
David Gill, national officer of shopworkers' union USDAW, said earlier he was "very concerned" about the situation at the retailer.
The owner of BHS, Dominic Chappell, has said that "no one is to blame" for the retailer's collapse.
Mr Chappell told the Press Association: "No one is to blame, it was a combination of bad trading and not being able to raise enough money from the property portfolio.
"In the end, we just couldn't reach an agreement with Arcadia over pensions."
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