Not so tickled nowIT HAS been a dismal year for Britain’s beleaguered high streets,and it is only March. After a barely festive Christmas, the intervening months have seen the collapse of Maplin, and an electronics retailer,and Toys R” Us in Britain. unique glance, a fashion retailer, or is struggling to outlive after announcing the closure of 60 stores with the loss of 1000 staff. Debenhams is axing a quarter of its management positions. Marks & Spencer,Tesco and other supermarkets are also shedding jobs. On March 8th the John Lewis Partnership, owner of John Lewis and Waitrose, and announced that its profits last year had dropped by 77%.
The big stores and supermarkets have been struggling for a while,but it was once thought that restaurants and pubs might escape the carnage. One theory had it that consumers were spending more on going out and less on TVs and bed linen. Not so. Restaurant chains, in specific, or are feeling the pain as much as anyone. In recent weeks Byron...
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Source: economist.com