Newspaper headlines: Shutters come down on BHS, Cameron's EU referendum Q&A and the plastic fiver

It is described by the Daily Telegraph as the end of an era on the High Street and in the Daily Mail as a "devastating blow" for 11,000 workers. The decision by administrators to wind down store chain BHS after failing to find a buyer comes under scrutiny.

The battle to save BHS, says the Financial Times, has ended in defeat after an influx of online rivals and more stylish fashion brands triggered the biggest collapse in UK retail since Woolworths in 2008.

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The i reports the scenes in some shops where the shutters were brought down immediately after the announcement was made.

Metro says a string of potential buyers were put off by liabilities, including a £571m pension deficit.

For the Daily Telegraph's business editor James Quinn, BHS was a "case study in how not to be a retailer in the 21st Century, and though few will mourn its inevitable passing, many should learn from it".

Daily Mirror business editor Graham Hiscott says the 88-year-old chain has been "woefully starved of investment".

"The death of BHS was preventable, whatever others may say," he writes.

The Times quotes one prospective bidder for BHS as saying the group had "never been viable" as a complete portfolio of more than 160 stores. But it reports a retail industry veteran now expects there to be plenty of interest as restructuring company Hilco seeks buyers for individual properties as well as the BHS brand and its online business.

According to the Guardian, the liquidation will crank up the pressure on Sir Philip Green, the owner of BHS between 2000 and 2015, and Dominic Chappell, who took on the business.

Larry Elliott, the paper's business editor, says the two men "now face an even more uncomfortable time" later this month when they appear before MPs investigating the collapse.

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'On the defensive'

There is plenty of reaction to the prime minister's first major TV event of the EU referendum campaign.

David Cameron, reports the Times, was forced on to the defensive during the Sky News interview and audience Q&A as he was confronted over his failure to meet a pledge to reduce net migration below 100,000.

The Daily Telegraph and Sun focus on the "angry voters" who turned on Mr Cameron, accusing him of "waffling", and "scaremongering" about the risks of an EU exit.

But the Guardian chooses to highlight Mr Cameron's "direct appeal" to the British public not to commit an act of "economic self-harm" by voting to leave the EU in an attempt to cut immigration into the UK.

Meanwhile, the sketch writers attempt to draw some conclusions from the hour-long proceedings.

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"Dave looked knackered. And that was before his grilling had even started," writes John Crace in the Guardian.

"Last year's TV general election debates were meant to have been his last... But now here he was, barely a year later, back in front of a hostile interviewer and a hostile audience trying to make the case for Britain to remain in the EU."

In the Daily Mail, Quentin Letts focuses on the "longish bout" between Mr Cameron and Sky's political editor Faisal Islam.

"Mr Cameron may have called him 'glib' but all he was doing was putting proper journalistic queries to a leader who, perhaps, is too seldom questioned," he writes.

Daily Mirror political editor Jason Beattie says the audience was quick to see through Mr Cameron's sales patter.

"He was not floored but took far more blows... than he would like," he writes.

In the Times, Matt Chorley also hones in on the "largely unconvinced audience".

"Nothing Mr Cameron said won obvious approval," he comments. "Everyone says they want the facts, but when they get them, their eyes glaze over."

For Michael Deacon in the Daily Telegraph "it was no disaster", though he adds: "But if you wondered why Mr Cameron didn't fancy a proper debate: now you know".

What the commentators say...

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Media captionBroadcaster Henry Bonsu and the former trade minister Lord Digby Jones join the BBC News Channel to review Friday's front pages

'Proper money'

And all the papers carry photographs of the final design for the new plastic Bank of England £5 note featuring an image of Sir Winston Churchill.

"Churchill fiver can endure blood, sweat and tea", says the headline in the Times as it reports the unveiling at Blenheim Palace, the wartime prime minister's birthplace.

It's the plastic fiver that won't tear, stain or turn to mush in the wash, says the Daily Mail, which carries Bank of England Governor Mark Carney's declaration it is is so strong it can survive "a splash of claret, a flick of cigar ash and the nip of a bulldog".

Image copyright EPA
Image caption Waterproof but not everyone is happy

The note will be printed on polymer, a thin and flexible plastic film which can be wiped clean and is tear resistant, and already used for currency in Australia, New Zealand and Canada.

The Guardian says the transition to plastic is a significant departure for a central bank that has used paper money since it was established more than 320 years ago.

For the Daily Express the decision to choose Churchill - first revealed in 2013 - was "right on the money". In a leading article, it says: "Nobody could be more deserving of such a tribute."

The Daily Telegraph, however, appears to be a lone voice in worrying about the technological advances.

It highlights concerns polymer notes may initially stick together. And it wonders: "What everyday item is improved by being made of plastic?

"Plastic flowers last longer. But a posy that needs dusting is no ornament to a room... At least let us have cash made of proper foldable paper."

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