BHS’s demise reveals big questions for the purpose of governance.
It’s hard not to be moved by the travails of BHS (or, as I grew up calling it, British Home Stores). After being founded in 1928, nearly 90 years later administrators have taken the decision to close the company after failing to find a buyer.
BHS was part of a sector in transition. Bricks and mortar retailers have been fighting a losing battle against online shopping, leaving them struggling to find customers. BHS was no exception.
Perhaps where we find the exception though is in the corporate governance supervising BHS.
Last week saw Simon Walker, the head of Britain’s oldest business group, the Institute of Directors, quest
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