More high street misery
Tuesday, 12 June 2018
2018 is proving a very costly year for some major high street shops and brands. The papers reported yesterday that Poundworld has entered Administration, putting some 350+ stores and over 5000 jobs at risk.
This news follows on the back of other recent announcements at retail giants House of Fraser and Marks and Spencer, who both reported impending large-scale store closures as part of restructuring measures.
Earlier in the year we saw Toys "R" Us and Maplin both fall into Administration. Toys "R" Us has since closed all of its stores, disappearing from the high street forever.
It is clear that everyone is starting to feel the pinch as online shopping continues to cause major issues to our high street retailers.
If you are a director of a company that is facing financial difficulty then our Insolvency & Recovery team are here to help. Our Insolvency experts offer a free and confidential consultation on 0330 024 0888 or firstname.lastname@example.org.