Department store BHS will go into liquidation with the loss of up to 11,000 jobs after efforts to find a buyer failed.

Administrator Duff & Phelps announced the business will be wound down and all BHS's 163 shops closed - including branches in Bolton, Bury and the Trafford Centre - and sold off to other retailers.

Duff & Phelps added 8,000 permanent jobs are likely to be lost and another 3,000 not directly employed by BHS are also at risk.

Duff & Phelps said: "Although multiple offers were received, none were able to complete a deal due to the working capital required to secure the future of the company."

The administrator added that BHS will be in "close-down sale mode" over the coming weeks as it proceeds an "orderly wind-down" of the business.

Philip Duffy, managing director of Duff & Phelps, said: "The British high street is changing and, in these turbulent times for retailers, BHS has fallen as another victim of the seismic shifts we are seeing.

"The tireless work and goodwill of the existing management team and employees of BHS with the support of my team were not enough to change the fortunes of the company."

Restructuring firm Hilco will now be tasked with helping liquidate BHS's store estate and remaining stock.

BHS fell into administration in April, leaving behind a £571 million pensions black hole and sparking an investigation by MPs into its demise.

Former BHS owner Sir Philip Green has said he is "saddened and disappointed" on learning that the retailer is to disappear from the high street.

A spokesman for the billionaire Topshop owner added that he had hoped to see the department store chain sold as a going concern.

Attention will now turn to the role of Sir Philip, who owned the chain for 15 years, and the man he sold it to for £1 last year, former bankrupt Dominic Chappell.

MPs are set to quiz both men in the coming weeks over their roles in the retailer's collapse.

The pair have been roundly criticised: Sir Philip for paying a £400 million dividend to his family from the business and over his management of the pension scheme, and Mr Chappell for sucking management fees out of BHS before its collapse.

As a secured creditor to BHS, Sir Philip's Arcadia also stands to pocket up to £35 million from the liquidation, depending on how much Hilco can glean from the property and stock.

Business Minister Anna Soubry said: "The Business Secretary has already announced an accelerated Insolvency Service investigation into the activity of former BHSdirectors. Any issues of misconduct will be taken extremely seriously."

TIMELINE: THE RISE AND FALL OF BHS

:: 1928: British Home Stores is set up in a store in Brixton, south London. Nothing costs more than a shilling.

:: 1929: Prices rise to a five shilling maximum as home furnishings are introduced.

:: 1970: Expansion since the Second World War means the brand now has 94 UK stores and around 12,000 workers.

:: 2000: Sir Philip Green buys British Home Stores for £200 million. It is rebranded as BHS.

:: 2002: BHS becomes part of the Arcadia retail empire after Sir Philip pays £840 million for the clothing chain which includes Topshop, Dorothy Perkins and Burton.

:: 2005: The shop is beginning to lose pace as it is pitched against cheaper rivals such Primark.

:: 2014: BHS department stores start selling food with the aim for it to be about 10% cheaper on branded goods than the big four supermarkets which are already involved in a price war.

:: 2014: BHS makes a cash loss of £21 million in the year to August 2014, compared with £19.3 million in the year earlier.

:: 2015: Sir Philip sells BHS to Retail Acquisitions, led by former bankrupt Dominic Chappell, for £1. Work begins on a turnaround plan to try to bring it back into profitability.

:: 2016: The store is thrown a lifeline in March when creditors back two company voluntary arrangements (CVA) designed to cut costs and prevent widespread store closures.

:: 2016: BHS collapses into administration in April, sparking an investigation by MPs into Sir Philip and Mr Chappell.

:: 2016: Administrators fail to find a buyer for the firm and decide to wind the company down. Attention now turns to an MPs' inquiry into its demise.