administration

Other businesses will suffer the same fate as BHS if…

Another one bites the dust. BHS in serious trouble. Picture:getreading.co.uk

Another one bites the dust. BHS in serious trouble. Picture: getreading.co.uk

Back in the day, I use to own a nice collarless shirt which I got as a gift from my Aunty. It was one of those shirts you use ‘forever’; I think I had to give it away to charity in the end. BHS, where that shirt was gotten was one of my favourite high street shops, but according to reports that came out yesterday it has gone into ‘administration’. In simpler terms, BHS can no longer afford to pay its debt, its staff and other obligatory payments and has now been taken over by a court appointed administrator who will be tasked with finding either a BUYER or call for the company to be completely DISSOLVED. Whatever the case, when a company goes into administration, it only means one thing – it marks the beginning of the end of the business.

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