High Street Retail Casualties

High Street Retail Casualties

Rather predictably, there has been a flurry of retail casualties on the High Street. This sector obviously depends directly on the public and consequently is now feeling the effects of poor consumer confidence.

Job insecurity, VAT increase and government cutbacks are all starting to bite. Also, inflation has eroded spending power so the public are cutting back with a vengeance. Higher fuel prices have contributed to the equation too and retail sales in clothing and non-food have tumbled.

Statistics for the first quarter of this year showed the number of retail companies going into administration increased by a massive 30% compared with the same period last year. Well known operators Focus DIY, Habitat, Jane Norman and now T J Hughes have all recently suffered and HMV and JJB Sports are known to be experiencing problems.

If you found this article informative and helpful...Please Share!

Leave a comment

Related posts

Sign up for our newsletter and support Neurocare’s ROSA robot project…

Our newsletter is full of financial advice for businesses and individuals and latest news.

We are helping Neurocare to fund their ROSA machine. This state of the art robot is the first of its kind to be brought to the UK and installed in a NHS hospital here in Sheffield. - Read More

Currently for every newsletter sign up we receive, we will donate £2 to Neurocare.

Disclaimer: We guarantee privacy with your information and you will not receive spam emails for us.