Weil Gotshal & Manges' London office is advising BHS as the struggling retailer looks set to file for administration today.

The high street stalwart started the administration process earlier this morning according to Sky News, after an attempt to sell 164 stores to Sport Direct reportedly collapsed over the weekend.

BHS owes more than £500m to its creditors, including nearly £70m owed to landlords. 

Phil Duffy, a managing director at Duff & Phelps, is set to be appointed as administrator according to reports.

DLA Piper is advising Duff & Phelps, with Leeds restructuring partner Colin Ashford at the helm.

Weil's team is being led by London head of restructuring Adam Plainer. The US firm has been advising BHS for some time with Legal Week reporting in March that it had advised BHS on its proposal for a company voluntary agreement (CVA) with its landlords. The CVA proposed reduced rents for BHS, its largest fixed cost.

In addition to Plainer, restructuring partner Mark Lawford, head of banking Mark Donald and head of real estate Rupert Jones advised on the proposed CVA.

Creditors voted in favour of the CVA on 23 March, allowing BHS breathing space to look for a buyer or further investment.

Creditors include Scottish Widows, which is owed £22m by BHS, Prudential which is owed £20m, British Land which is owned £12m, Land Securities which is owed £19m and Tesco which is owed £4.6m.

In March 2015 Olswang and Linklaters advised as Sir Philip Green's Arcadia Group sold off BHS for £1 to Retail Acquisitions.

Linklaters advised Arcadia on the sale with a team led by London corporate partners Owen Clay and Nick Garland.

It is understood that Olswang advised Retail Acquisitions with a team led by London corporate partner and head of the firm's leisure and retail practice David Roberts.