England
This coverage focuses on retail developments, trends, and performance across England. Reporting includes store openings and closures, regional economic factors, consumer behaviour, property developments, and strategic initiatives by national and local retailers. Designed for executives and managers, it offers insights into operating successfully within England’s diverse retail landscape.
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Jan- 2019 -9 JanuaryEntertainment
HMV ‘denied’ £3.35m tax lifeline before administration
Beleaguered music and film retailer, HMV, who officially fell into administration during the festive period, was denied a £3.35m government tax cut before it entered administration new figures have revealed. HMV blamed a “tsunami” of retail challenges, including business rate levels, saying it paid £15m on sales of £277m meaning…
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7 JanuaryEconomy
Retail administrations rise for second consecutive year
The number of retailers entering into administration in 2018 was 125 – compared to 118 in 2017, an increase of 6% according to Deloitte’s latest insolvency figures. Furthermore, the number of retailers entering into company voluntary arrangements (CVAs) increased by 52%, from 25 in 2017 to 38 in 2018. Deloitte’s…
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4 JanuaryComment
Carnage on the shop floor
The pressure on the retail sector has been a consistent staple for investors since the end of the financial crisis, partly as a result of changing shopping habits but also down to rising costs and outdated business models. This has been no better illustrated by the way UK consumers behaved…
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Dec- 2018 -10 DecemberClothing & Shoes
Mike Ashley’s Flannels given £125k rates relief despite £65m turnover
Mike Ashley’s high end fashion chain Flannels has been handed £125,000 in business rates “help” by a local council amid fears that a former pub and nightclub it bought back in 2016 would be left derelict. Doncaster Council agreed the funding to Flannels’ over a “derelict” site at Priory Walk,…
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5 DecemberAnalysis
Why are retail spaces shrinking across England and Wales?
Across the UK, retailers are struggling to survive. This is down to several factors: years of austerity and low wage growth has meant that households have less spending power, the cost of imported goods has risen – as has the national minimum wage – and the trend of “bricks to…
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5 DecemberGovernment
Government clarifies details of new business rates relief
The Ministry of Housing, Communities and Local Government (MHCLG) has published guidance on the details of how business rates discounts first announced in this year’s Budget will be allocated. During the Budget on 29 October, chancellor Philip Hammond announced that businesses with a rateable value of under £51,000 would receive…
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Nov- 2018 -21 NovemberHigh Street
Crickhowell High Street crowned ‘UK’s best’ in Great British High Street Awards
Crickhowell High Street has been crowned the overall winner of the government-run Great British High Street Awards 2018. The Welsh high street was commended for its community-led initiatives and strong network of independent businesses and was awarded £15,000 for the local community. The result reflects strong public support on social…
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13 NovemberGovernment
EU rules could ‘thwart’ Hammond’s business rates promise
Hammond’s plan to help high streets through a near £1bn, two year business rates cut, is set to be thwarted by European Union state aid rules, real estate agents Altus Group have claimed. The chancellor will slash business rates next April by discounting bills by a third for those retail…
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9 NovemberHigh Street
October footfall ‘wobble’ sparks fresh concern for UK high street
October saw a 7.4% drop in UK store visits, the biggest year-on-year drop since July, while average weekly footfall was down 2.9% compared with September. According to Ipsos Retail Performance’s latest Retail Traffic Index (RTI) the areas with the highest decline in store visits were south west England and Wales,…
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1 NovemberEconomy
Bank of England puts hold on interest rates due to Brexit uncertainty
The Bank of England has placed interest rates on hold following growing uncertainty around Brexit. A vote to leave rates unchanged held by the bank’s Monetary Policy Committee (MPC) was in favour of leaving rates at 0.75% by 9-0. Financial markets are currently indicating that rates will not rise until…
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