BHS filed for administration on Monday after a long battle to find a buyer for the struggling high-street institution. 11,000 people face job losses as yet another household name enters the retail graveyard; with fashion house Austin Reed following suit on BHS’s old-fashioned coattails. We’ve seen the likes of Woolworths, Blockbuster, JJB, Comet, HMV and many others close their doors or go into administration in the last decade. Why have these businesses failed to adapt to our society of change?

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