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Uk High Street Faces 26,500 Shop Closures By 2015

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http://uk.finance.yahoo.com/news/uk-high-street-faces-more-than-26-500-shop-closures-by2015-tele-6912a5593d1b.html?x=0

UK high street faces more than 26,500 shop closures by 2015

James "Jimi" Hall, 9:57, Friday 15 October 2010
As the UK's economy slowly crawls back to health, more than 26,500 retailers will be forced to close by 2015, according to research by BDO.
The figure includes 15,400 fashion shops, 6,300 bars and restaurants, and 1,500 furniture retailers.
The expected rate of business failures is significantly higher than in the post-recession period that followed the downturn in the early 1990s.
Then, 0.6pc of all retailers went bust. This time, 0.9pc are expected to fail, according to the research by BDO, the accountants. Next year will see the highest rate of high-street failures over the five-year period - at 5,017.
Don Williams, head of retail at BDO, said that the thousands of businesses that fail will do so because they have failed to adapt to the "psychology" of post-credit crunch consumers, who are looking for better value for money and better quality.

As the economy "crawls back to health" thousands of business are set to close and hundreds of thousands of jobs are about to be lost accross every sector of the economy......

Its a jobless, shopless, businessless recovereh!

Edited by Realistbear

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A great many of these 'businesses' will be froth enterprises - nail bars, tanning salons, yet another coffee shop/sandwich bar, 'prestige' kitchen outlets, tattooists, massage parlours, estate agents and the like.

The high street will lose nothing by their absence

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As the economy "crawls back to health" thousands of business are set to close and hundreds of thousands of jobs are about to be lost accross every sector of the economy.

:lol: how does that work !!

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A great many of these 'businesses' will be froth enterprises - nail bars, tanning salons, yet another coffee shop/sandwich bar, 'prestige' kitchen outlets, tattooists, massage parlours, estate agents and the like.

The high street will lose nothing by their absence

Exactly.

Of course it will be painful for many involved, sadly, but unfortunately it It is a necessary part of the correction: away from over-spending, fuelled by too much credit, and towards a rebalancing of the economy.

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A bit of real austerity would be good for some independent retailers. Tesco is really expensive where I am. The only reason I ever go there is late night emergency shopping.

I live in an area where Co-op rules the retail food world--I find the little Tesco Express to be cheaper. I suppose they base pricing on the level of monoply they enjoy in any given area?

BIg stuff I buy online or at Costco.

Edited by Realistbear

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I live in an area where Co-op rules the retail food world--I find the little Tesco Express to be cheaper. I suppose they base pricing on the level of monoply they enjoy in any given area?

BIg stuff I buy online or at Costco.

Yes they do!

They advertise their cheapest prices in the cheapest areas but don't tell you they charge different prices in different regions.

Norwich - stuck on it's own with no nearby competition (and drawing people in for about 40 mile radius) is notorius for this.

B&Q and all the others national chains whack loads of Xtra profit on items they sell (run a local price cartel between them) coz they have no competition for miles.

I just compare online now and buy majority of tools/furniture/household goods etc elsewhere - though I would rather support local jobs and quite often ask them if they will do a price match! They rarely do.

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I have been out clothes shopping today and yesterday and am finding that most of the shops are selling at boom prices but the quality, IMPO, is rubbish. Many of the trousers, in particular, look as if they will rip just looking at them.

Not impressed.

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I live in an area where Co-op rules the retail food world--I find the little Tesco Express to be cheaper. I suppose they base pricing on the level of monoply they enjoy in any given area?

BIg stuff I buy online or at Costco.

The local Co-op is by far the most expensive here. I really don't like them. Exploiting the locals that don't have cars - mostly pensioners. And then posing as a "do-gooding cooperative". Hypocrites. It does remind me of the Labour party and the Unions.

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Tesco and the internet are the death of the high street.

Very few things that are better bought in person.

What's left?

Charity shops, banks, cafe, pound shops, pound bakery...

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Funny enough noticed a cafe recently up for sale, now this cafe is in a heigh foot fall area that i would have thought done very well. The person only bought it in 2007, speaks volumes.

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I have been out clothes shopping today and yesterday and am finding that most of the shops are selling at boom prices but the quality, IMPO, is rubbish. Many of the trousers, in particular, look as if they will rip just looking at them.

Not impressed.

I'm guessing you prefer to use your teeth.

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A great many of these 'businesses' will be froth enterprises - nail bars, tanning salons, tattooists . . .

The high street will lose nothing by their absence

As it happens, it is the froth enterprises which have outlasted many traditional shops. There are six hairdressers in my own small local high street. I'd have said there wasn't room for all this competition, but it's the drapers, florists, butchers and so on that folded.

Rinses, tans and tattoos are 'must haves' . . . and I suspect by increasing numbers of the young, living at home, with no mortgage.

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A great many of these 'businesses' will be froth enterprises - nail bars, tanning salons, yet another coffee shop/sandwich bar, 'prestige' kitchen outlets, tattooists, massage parlours, estate agents and the like.

The high street will lose nothing by their absence

I hope Recruitment Agencies will join that list. I had the misfortune of using them in the past .... I think it's fair to say that most of them are rubbish :P. Half-arsed adverts, forced smiles, and a lack of attention to detail - they are nothing more than CV collectors! I'm sure there are exceptions ... :rolleyes:

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As it happens, it is the froth enterprises which have outlasted many traditional shops. There are six hairdressers in my own small local high street. I'd have said there wasn't room for all this competition, but it's the drapers, florists, butchers and so on that folded.

Rinses, tans and tattoos are 'must haves' . . . and I suspect by increasing numbers of the young, living at home, with no mortgage.

It is quite hard at the moment.I have been in business since 1977 and this is the only time apart from 1980/1 that it has been difficult to achieve profits.Retail demand is really at a low ebb and stock turn around periods are very long.This isn't so much a problem if like me you have been in business 33 years and have past profits to fall back on.Anyone starting up though is realy up against it.

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I'm seeing a lot of new start ups- mostly coffee shops and hairdressers- and art galleries?

Some of this must be redundant people with a bit of cash deciding now is the moment to follow the dream or something.

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It is quite hard at the moment.I have been in business since 1977 and this is the only time apart from 1980/1 that it has been difficult to achieve profits.Retail demand is really at a low ebb and stock turn around periods are very long.This isn't so much a problem if like me you have been in business 33 years and have past profits to fall back on.Anyone starting up though is realy up against it.

You are a rare creature indeed. Actually having some cash behind you for the bad times. Not having spent everything you got hold of, and then borrowed ten times that much for new house/BTL's/cars/kitchens/holidays/boob jobs etc.

How terribly old-fashioned!

And I suppose you are going to say you can sleep at nights!

When will you realise you're just not a proper, modern businessman/woman!

Edited by juvenal

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Tesco and the internet are the death of the high street.

Very few things that are better bought in person.

What's left?

Charity shops, banks, cafe, pound shops, pound bakery...

You mention only a couple of death knells.

The supermarkets have definitely killed local shopping, along with countless local producers. I thought the EU was there to protect local suppliers . . . don't we pay fortunes for subsidies? Yet what chance have they got when Asda buy things like runner beans, for heaven's sake, from Kenya or Morocco. I could only marvel at a packet of about 15 runner beans costing £1 . . . the freight costs, the storage and distribution, the packaging . . . the exploited labour . . . runner beans (and many other things besides) always used to grow in abundance in England.

You can't blame the loss of fresh food shops on the Internet. Would you buy runner beans from e-bay?

Along with the multinats, you might want to target the local councils, milking everyone for parking charges and ridiculous rents and overheads to pay their own pensions.

Actually, there were so many forces at work killing the high street even before the recession.

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You mention only a couple of death knells.

The supermarkets have definitely killed local shopping, along with countless local producers. I thought the EU was there to protect local suppliers . . . don't we pay fortunes for subsidies? Yet what chance have they got when Asda buy things like runner beans, for heaven's sake, from Kenya or Morocco. I could only marvel at a packet of about 15 runner beans costing £1 . . . the freight costs, the storage and distribution, the packaging . . . the exploited labour . . . runner beans (and many other things besides) always used to grow in abundance in England.

You can't blame the loss of fresh food shops on the Internet. Would you buy runner beans from e-bay?

Along with the multinats, you might want to target the local councils, milking everyone for parking charges and ridiculous rents and overheads to pay their own pensions.

Actually, there were so many forces at work killing the high street even before the recession.

Parking charges are my bug bear. Our local district council is one of very few who make no charge in any town in the district. They were going to start charging in 2007 and then decided against it and said they would 'wait until the recession is over'.

They will have a fight on their hands when they decide to try and start charging. I couldn't think of a quicker way to drive people away from their local high street and onto the internet/supermarket/out of town shopping centre.

Edited by hpc-craig

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You mention only a couple of death knells.

The supermarkets have definitely killed local shopping, along with countless local producers.

Actually, there were so many forces at work killing the high street even before the recession.

Yes agree 100%.. and can I say thank you to Tesco for providing such a good service to this country. Without Tesco we would all be trying to squeeze into under developed town centres.. usually with little on no provision for the majority of people who get to the shops by car.

As Craig says, most town centres run a parking racket, and even if you don't mind always having to have change with you you would probably be lucky to find a space in easy walking distance to a Butcher / Baker / Clothes shop / Electrical store / Deli / Chemist / bank etc.. without putting your back out carrying the bags back to the car again.

The only people to blame for people leaving the town centres are the town planners.. no access, no shopping. Easy.

Super markets are ******* ace! That's why we all use them.

Edited by libspero

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A bit of real austerity would be good for some independent retailers. Tesco is really expensive where I am. The only reason I ever go there is late night emergency shopping.

Shop online. The delivery charge is tremendous value when you think about the time involved to pick the order, drive it to you, the fuel and van upkeep.

I got a voucher XXFVK7 for £10 off the first order for spending £50 or more before 31st October

I decided to go 100% wine. When he delivered the 15 bottles I realised that the "25% off for buying 6 bottles" applied to a mixture of brands and to all the bottles 6 or more. I went back online for another 20 bottles. I phoned up and blagged another £10 voucher for that order as well. Neither were really my first orders.

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As it happens, it is the froth enterprises which have outlasted many traditional shops. There are six hairdressers in my own small local high street. I'd have said there wasn't room for all this competition, but it's the drapers, florists, butchers and so on that folded.

Rinses, tans and tattoos are 'must haves' . . . and I suspect by increasing numbers of the young, living at home, with no mortgage.

Any trip to the less developed regions of the world, Asia in particular, will show that as soon as women have any spare money they will spend it on "froth". These businesses will be the cockroaches in our nuclear winter economy.

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Yes agree 100%.. and can I say thank you to Tesco for providing such a good service to this country. Without Tesco we would all be trying to squeeze into under developed town centres.. usually with little on no provision for the majority of people who get to the shops by car.

As Craig says, most town centres run a parking racket, and even if you don't mind always having to have change with you you would probably be lucky to find a space in easy walking distance to a Butcher / Baker / Clothes shop / Electrical store / Deli / Chemist / bank etc.. without putting your back out carrying the bags back to the car again.

The only people to blame for people leaving the town centres are the town planners.. no access, no shopping. Easy.

Super markets are ******* ace! That's why we all use them.

Yes, I think the suggestion that this is a result of poor business strategy and management is wrong and very misleading. Many, really quite large, independents I know of going under recently have been going decades. Incompetently run businesses don't last twenty years.

It's a very persistent delusion that businesses could have been saved if they'd been managed differently. It allows people to delude themselves that if they were running a business or run one and get into trouble they'd be smart enough to survive. I think this also encourages numpties to start or take on businesses because they think they've got some special touch.

There are shops, and particularly pubs and restaurants, for lease out there that have chalked up forcing double digit lessees into bankruptcy. Morons like that Mary Queen of Shops attention seeker would have you believe 'they didn't do enough promotion'. 'the window displays needed to be better'. Fact is, it was f**ked from day one and, as I've just mentioned, some of these premises out there no-one has ever been able to run profitably. It's the same mentality as the twigs in a vase and smell of freshly baked bread nonsense.

Sometimes the best business decision would be to walk away from a business in a dying sector or geographic location and start another one. Some banks, landlords and the HMRC might not end up getting back what they expected but, that's the risk they take and landlords won't give them a special prize for reaching the end of their lease after working for five years for zero profit.

The fact is, I would be very loathe to sign a 15 year or even a 5 year lease to open a shop selling, some currently in demand products, only to find either the product, the selling location or both become obsolete in very short order. The world has definitely changed.

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Any trip to the less developed regions of the world, Asia in particular, will show that as soon as women have any spare money they will spend it on "froth". These businesses will be the cockroaches in our nuclear winter economy.

A lot of these tanning salon, nail bars and car wash businesses are fronts for money laundering.

I know of a shopping centre owned by a Cof E property fund where it was known a snack bar was a front for a drug dealer. There's always a lease clause to allow the landlord to force forfeiture under such circumstances. In this case they decided to turn a blind eye because the rent was always paid on time. :lol:

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      • down 5% +
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