Frightening reading . . . . .

[wolf63]

The news seems to be full of companies going bust these days and I have to admit that I am still in shock that a company the size of Woolworths could go belly up.


Look at this chart - it seems that no company is safe

http://www.bbc.co.uk/news/business-13977255

Who will be next?

[fliptheswitch]

You're still in shock about Woolworths?

Really? :P

[wolf63]

I loved that shop - they sold anything and everything. :-)

[pastafreak]

I had no idea so many were going into administration. There will be nothing left on the High street.
But-maybe small independents will come back.

[horseshoes]

@ pastafreak - let's hope so; wouldn't it be wonderful.

[Maydup]

Grim isn't it? I think there will be more still.

I think the supermarkets will hold on, along with the poundshops and a few high end shops, but those in the middle such as BHS, Debenhams, Iceland, Dixons, WH Smith, etc cannot all survive in this climate.

[pastafreak]

Maidup-are the ones you mention in trouble?

[Maydup]

No I'm just being gloomy! But I wonder which of them will actually make it through the year?

[stokemaveric]

it doesnt take a scientist to work out that people are just not spending their hard earned cash anymore,people are not buying luxury items anymore,the emphasis is on buying the essentials,the likes of tescos stock everything you will ever need and its the high street shops that are paying the price..unfortunatley some big name stores will be biting the dust with thousands of job losses...so there will be less people spending...and so the cycle continues....

[slinkycat]

Just a comment about small independants, yes it would be lovely if every high street in every town wasn't identical, but, as my daughter quite rightly pointed out the other day, the chain shops have their place, not everyone can afford to shop at little boutiques for example, or at their local butchers, as much as we would like to.

[slinkycat]

Btw, apparently Woolies is doing really well in some European countries, it was bought out and relaunched, still with the Woolworths logo, but is not allowed to resume trading in the UK.

[pastafreak]

A balance would be welcome---the chains are so homogenised,that it's boring to shop in them.

[daffy654]

Woolworths does still trade in the UK slinkycat, I but stuff from their website regularly.

http://www.woolworths.co.uk/

[AB Editor]

I have no problem with any of these companies going bust. They're mostly bottom-end stuff, a rung above the supermarkets. This is why they're disappearing.

[China Doll]

It's a shame about La Senza, I like them.

[venator]

What we're seeing is partially the shift from high street to online retailers.

High street shops have costs - premises, business rates and staff - which are dramatically lower for online retailers. Instead, they have postage costs, but these are not incurred until a sale is made, while high street costs are continuous.

It's only the tip of the iceberg at the moment, but it will have hit the weaker businesses already.

Will they go the way of typists and steam engine stokers?

[wolf63]

venator - my dad was a fireman/steam engine stoker many many years ago.

He then became a choo choo driver.

[bibblebub]

it's social evolution in a phase where things are changing relatively quickly

[maggiebee]

I too mourn the loss of many of our traditional High Street shops, but if I'm really honest I didn't really shop in them, just liked having a look. Perhaps people like me hastened their demise.

[hc4361]

I don't suppose I'm the only one that decides on the product I want, look at it in a shop and then trawl the internet and buy online.

[daffy654]

I will miss La Senza too, all of my underwear and nightwear has been purchased from their website for years now.