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Best possible outcome for everybody except the staff.

Not much the administrators can do, is there? The company is bust, it has no worthwhile assets, and the stuff it does have (stock) is worth a fraction of the book value. The administrators are doing a job required by law, of working out the size of a very small pie, dividing that pie up according to well established but complex rules. If Rutland group have made themselves a secured creditor, I can only as "secured on what?".

There is however a warning from this for other shop workers. Is your store selling enough to keep going? Retail insolvencies tend to be slow motion events, often predictable years in advance. And whilst looking at the published accounts is a good guide, so is simply looking at the number of customers and what they spend, and the ambience of the store. If it's dingey and poorly lit, that's a subliminal message to customers "we're fading away, and we won't invest to improve". If it is well lit and attractive but still empty (like Maplin) then the product and pricing are wrong. Either way, better to move along on your own terms to a company that are doing adequately or better, than to sit it out to the grim end.