It should be mandatory to retain a % of staff/stock/real estate in these deals for a period of time.
All those clothes and hardware that will likely be destroyed. How wasteful and detrimental to the environment.
I agree with @Iamthewombat - when a company is put up for sale, either in entirety or in parts - those buying it have got to be able to make it work. If the deal on the table is unworkable, in that the company will still be weighed down with such debts and liabilities that they'll never make a go of it, then no-one will touch the sale with a bargepole. Insolvency processes are sometimes controversial in that they allow debts/liabilities to be wiped off but, while it can be morally dubious, it does allow the company to survive. Something being better than nothing.
With regards the stock, no it won't be thrown away. Liquidators need to get the best return for creditors - all those owed money by the company, whether that's banks, employees, HMRC, suppliers - and they will sell it on for the highest price. Even if it goes for rags it'll be sold, but mostly it will be reclaimed by suppliers who haven't been paid yet under Retention of Title laws, or it'll get sold to discount chains.
Problem is, there's more nostalgia than actual shopping going on.
Yup. It was the same with Woolworths - everyone rung their hands about pick'n'mix or spending pocket money on cassette tapes but very few people actually shopped there. The bottom line was the business hadn't kept up with the times and they were seen as an increasingly bad risk. Credit risk insurers pulled their cover (this being insurance for suppliers who give goods on credit, insuring the risk of a company going bust and therefore the supplier not being paid) because the company was in such a bad shape and then it was all over bar the nostalgia.