The future of Barnstaples BHS store is uncertain after the national retailer filed for administration today (Monday). The Green Lanes store is among 164 branches at risk of closure, along with nearly 11,000 jobs. Administrators Duff & Phelps said BHS directors had no alternative than to put the group into administration but said that stores would continue to trade while a buyer was sought. In a statement, Philip Duffy and Benjamin Wiles, of Duff & Phelps, said: The group has been undergoing restructuring and, as has been widely reported, the shareholders have been in negotiations to find a buyer for the business. These negotiations have been unsuccessful. In addition property sales have not materialised as expected in both number and value. Consequently, as a result of a lower than expected cash balance, the group is very unlikely to meet all contractual payments. The directors therefore have no alternative but to put the group into administration to protect it for all creditors. The group will continue to trade as usual whilst the administrators seek to sell it as a going concern. Further announcements will be made as appropriate in due course. Last month, the Gazette reported that the Barnstaple store was seeking a significant rent reduction to ensure its survival in the town. At the time, a spokesman said: We are doing everything we can to keep all of our stores open. Unfortunately our Barnstaple store is one where we need a significant reduction in rent to reduce it to a market rate, so its future depends on successful discussions with its landlord.