The announcement of the final demise of BHS is another sign of how the UK High Street is changing. When I was growing up British Home Stores were a staple of shopping trips. Nothing spectacular but solid and dependable. It always had an excellent lighting department. However, the stores have failed to change with the times. BHS had no unique selling point. It was not the cheapest. It did not have a range of goods on offer that was so much more attractive than anywhere else.
My first concern is for the thousands of employees who face an uncertain future. The announcement that the administrators have been unable to find a buyer for the business will be devastating news for all those who work at BHS and those in the supply chain.
The Business Secretary Sajid Javid has already announced an accelerated Insolvency Service investigation into the activity of former BHS directors. in Parliament both the Work and Pensions Select Committee and the Business Select Committee are to conduct Inquiries in to the failure of the Company.