Business Rates
This coverage examines business rates policy and its implications for the UK retail sector. Reporting focuses on government decisions, reforms, rate relief measures, and their impact on store operations, profitability, and investment decisions. Tailored for retail executives and managers, it provides analysis to help navigate costs, advocate for change, and plan effectively in response to fiscal pressures.
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May- 2018 -18 MayHigh Street
34 Carluccio’s restaurants to close after it announces CVA
Italian restaurant chain Carluccio’s has announced it is to close 34 restaurants as part of a recently announced company voluntary agreement (CVA). As many 103 UK sites are also set to “exit” as part of restructuring at the company. The CVA, yet to be approved by creditors will see the…
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11 MayAnalysis
The death of the UK high street
The high street as we know it is dead. Boring stores are dead. Or if they are not dead yet, they will be if retailers do nothing. The high street started to decline because retailers saw firstly that out-of- town, and then online were what customers wanted. It’s always driven…
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Apr- 2018 -26 AprilEconomy
Number of retail jobs falls in first quarter
The number of full time jobs in UK retail has fallen by 2.5% compared with the same time last year, data from the British Retail Consortium (BRC) shows. The number of hours worked was also down, with a 3.2% year-on-year decline. The trade body attributed this to the “structural change”…
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25 AprilEconomy
Increase in retailers using secondary revenue to boost profits
More retailers are making use of secondary revenue to increase sales outside of core offerings, online marketing company Webloyalty’s ‘Beyond the Core II’ report suggests. According to the report, there has been an increase of retailers working with third parties on secondary revenue – up from 23% to 36% this…
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24 AprilHigh Street
650 retail stores have closed in 2018 so far
Nearly 650 retail stores and restaurants have shut or are at risk of closure since the start of 2018. According to analysis by BBC 5 live’s Wake Up to Money Maplin and Toys R Us sites accounted for half of the total closures, as both chains fell into administration on…
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16 AprilEconomy
High street collapse down to higher business rates, says Colliers
Fifteen major retailers or restaurant groups have gone into CVA or administration in the twelve months since the April 2017 Business Rates Revaluation, according to Colliers International, the global commercial real estate agency and consultancy. Ten of those have happened since the beginning of this year – in the last…
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3 AprilEconomy
21,000 retail jobs lost or threatened so far this year
Over 21,000 jobs have been axed or put at risk in the first three months of the year as retailers struggle to break even. A Press Association analysis revealed that 21,413 staff members have already been made redundant or had their role threatened, with the majority being from large high-street…
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Mar- 2018 -7 MarchClothing & Shoes
New Look announces CVA proposal, 980 staff at risk
Clothing chain New Look has announced company voluntary agreement (CVA) proposal that will look to close up to 60 stores, reduce rental costs and potentially make up to 980 staff members redundant. Under the proposal, the fashion retailer has identified 60 out of its total 593 stores in the UK…
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Feb- 2018 -13 FebruaryClothing & Shoes
Insolvency cracks showing with one in five fashion retailers
Some 19% of UK clothing retailers are currently exhibiting early warning signs that they are at risk of going insolvent, according to research by accountancy firm Moore Stephens. Out of 35,078 fashion retailers analysed, 6,580 are showing early signs of financial distress, which can include a large fall in revenue…
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Nov- 2017 -23 NovemberGovernment
Retail associations respond to ‘encouraging’ Autumn Budget
A number of retail associations have responded positively to the Chancellor’s Budget which was revealed yesterday (22 November). The British Retail Consortium (BRC) and NFU Mutual reacted to the announcement that the move from RPI to CPI indexation will be brought forward by two years to 2018, allowing for a…
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