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BHS and Austin going into administration (bankruptcy) in UK
Quick note; going into administration means that the company is actively looking for buyers to either come in with a cash injection or take the business off their hands as a going concern. While worrying for the staff (things will change whatever happens and the first cost-cutting measure is payroll), there's still the possibility they will have jobs going forwards.
Going into liquidation is the bad one, as all the business's assets are sold off to pay off what creditors they can before it's formally written off as a company.
Regardless, good luck to anyone who works at either. I'll miss BHS if it folds; I got most of my basic office t-shirt/long sleeved t-shirt tops there. I also loved their pyjamas
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