Despite all the hand-wringing, BHS has gone to the wall as was entirely predictable.
No one came forward with enough cash to cover the gaping hole in working capital. Unsurprising, when as a retailer you start to fail it really is a tough time, you get insurances withdrawn and credit facilities with suppliers withdrawn and from there it is a steep mountain to climb back up; most never do.
Now the Government will have its fun looking into Sir Philip Green and Damon Chappell - but who will spot the obvious business model issue as the true cause of the decline. Well, there are no grandstanding votes in that so no one will.
However, the taxpayer is on the hook for the pensions as was always likely and will most likely happen with Tata steel too. Surely not there has to be some legislation, somewhat counter-intuitive, that stops companies making pension commitments that they won't be able to keep and then get lumped on the taxpayer.
Of course, with defined contribution schemes, that is already the case. We need now though to make them de riguer in the public and private space so that the future tax burdens of the Country are not even more utterly horrendous than they are already.
Given our politicians at the moment though, they will probably decide the opposite solution is better....