Friday, November 28, 2008
Retail stocks have plunged – but they will get cheaper still
In recessions, companies fold. It's sad, but that's just what happens in downturns. And on the British high street, the failures are starting to stack up as high as the unsold stock in retailers' storerooms. Yet this week's high profile collapses of Woolworths and MFI may turn out to be more than just a sign of the cyclical times. They could signal the end of the high street as we know it.