Shoppers also fell by 2.1 per cent last year as they buy more online. As the crisis deepens, big retailers are using a controversial insolvency procedure to cut costs.
Debenhams, Topshop owner Arcadia Group, Paperchase and Monsoon are among those using or expected to use company voluntary arrangements.Asda and Tesco launch massive sale on baby items to rival Lidl'sSUMMER SUNTesco joins rival supermarkets by slashing Easter egg chocolate down to 25pCVAs mean insolvent firms can agree new pay plans with creditors, not least in rents. But landlords claim more retailers are opting for them simply to cut costs.
Analysts also blame private equity ownership in the sector for many insolvencies. Stephen Springham, of estate agent Knight Frank, said: “Retailers need to be run as retailers by retailers, not as cash cows by financiers.”Topshop owner Arcadia Group are among those using or expected to use company voluntary arrangementsGOT a story? RING The Sun
Source: News Formal (newsformal.com)
Suppose Brexit is to blame Bullshit. Going under due to poor management or sales is not down to Brexit, it's how you manage yourself. Should be looking at the booming internet industry instead of the make beliefs of Brexit ruining this country Brexit LeaveMeansLeave
Then put the prices down and the public will shop there 👍
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