Much has been written about the sad loss of BHS, one of the UK high street’s most recognisable stores but only now has the final nail been hammered into the coffin.
While you would be forgiven for thinking that BHS met its end months ago, the company had been in administration while a better deal was being sought for creditors.
This month however time has run out and liquidation proceedings have begun in earnest, ending 88 years of history.
The story, which began with the company’s downfall in April, was the latest sorry chapter in a period of decline on the high street, which shows little sign of being reversed.
At least while BHS was in administration, there was still a chance that parts of the company could have been purchased and rescued. Unfortunately, there was no rescue and its assets will now be liquidated and the firm officially dissolved.
Any money will then be used to pay creditors and staff who will have paid into the company pension over the years, assuming there will be enough left to cover those huge costs and this doesn’t look likely given the huge deficit the company accumulated.