Tuesday, 6 November 2012

Poor retail figures in October add to High Street Gloom

Very difficult conditions look likely to persist in the Nation's high streets.  Retail sales were down in October after perking up in September.  See retail-week.com.

Read on for comments on Comet, Argos and BBC item on  Distessed Retail Property Task Force:

Comet has gone into administration, undermined by Internet sales which also, locally, 'did for' ETS (see Guardian item).  Argos has announced it is scaling back it stores nationwide and focussing more effort into online sales.  It is too early to know if the Penzance outlet will be affected. See Financial Times item.

All in all nearly 1000 chain store branches have closed this year.  See the BBC video clip  from 18 Oct about continued store closures.

Mary Portas recommended a task force to deal with the issue of surplus retail premises and a 'Distessed Retail Property Task Force' has been set up.  See the BBC video clip about the formation of this new body.

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