"Brexit has helped to drag Arcadia to the brink of administration, says senior market analyst Fiona Cincotta of City Index.
She points out that a clutch of retailers have hit serious problems since the 2016 referendum:
Brexit is slowly but incredibly persistently eroding the confidence and the spending power of the British consumer. The process started fairly discreetly but given that it has now been in place for close to three years it is claiming more and more victims.
Notable business failures this year alone include Debenhams, LK Bennett, Wine Direct, Office Outlet, Steamer Trading, Patisserie Valerie, OddBins and Jamie Oliver’s chain of restaurants. The list is already long and scary enough without adding the big closures of 2017 and 2018.
Factor in the rise in online shopping, and high business rates, and it all adds up to a crisis."
Arcadia: Thousands of jobs saved as landlords back rescue plan - business live | Business | The Guardian
So now it's official - because I say so!
She points out that a clutch of retailers have hit serious problems since the 2016 referendum:
Brexit is slowly but incredibly persistently eroding the confidence and the spending power of the British consumer. The process started fairly discreetly but given that it has now been in place for close to three years it is claiming more and more victims.
Notable business failures this year alone include Debenhams, LK Bennett, Wine Direct, Office Outlet, Steamer Trading, Patisserie Valerie, OddBins and Jamie Oliver’s chain of restaurants. The list is already long and scary enough without adding the big closures of 2017 and 2018.
Factor in the rise in online shopping, and high business rates, and it all adds up to a crisis."
Arcadia: Thousands of jobs saved as landlords back rescue plan - business live | Business | The Guardian
So now it's official - because I say so!
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