David Prosser: A second wave of high-street failures
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Outlook These are dark days for all but the strongest retailers. At one stage in 2010, it seemed as if the high street had turned the corner, putting the recession, which claimed the likes of Woolworths, behind it. But those hopes have been dashed. While the recession prompted the demise of retail's basket cases, the consumer slowdown of the past few months is now mopping up those companies that were weakened rather than killed off.
As we report opposite, while Focus DIY is a big name, its administration is part of a trend in which retail failures have spiked by a third so far this year. And while there was help for the high street during the recession – a VAT cut, for example, as well as extra time to pay tax bills – that has now gone. Unfortunately, with household incomes set to fall this year and possibly again in 2012, Focus will not be the last to suffer this fate.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments