This week the financial pages have been reporting on the difficulties at veteran high street retailer BHS. While the business has sales of over £600 million, it operates at a loss.

This doesn’t surprise me. A visit to a store last year in Slough and a couple of years before that in Worthing gave me a shopping experience that I don’t want to repeat. I was put off by the store layout, ambiance and the products.

But what will happen?

Will we see a takeover by another owner who thinks they have a better formula? Or will the brand disappear, the store chain get broken up and other retailers take over the space? Similar to what we saw with Woolworth’s.

What I do know is that whatever the outcome, there will be lessons to learn from any new formula that is created to make profitable use of the stores.