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BHS collapse a devastating blow to the high street

Richard Lim, Chief Executive, Retail Economics said: "The collapse of BHS is a devastating blow to the UK high street and all the employees involved.

"This once iconic British retailer suffered from paralysis when it came to innovation and it failed to stem the loss of market share to other more agile multi-channel competitors. The business model was simply no longer fit for purpose and its product range failed to resonate with its core customer base.

"Following the collapse of Austin Reed, these recent events focus the mind on how many other traditional UK retailers are sleep-walking into administration."

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