The high street isn't what it used to be.
Over the past 12 months, 31 retailers have gone into administration; thousands
of jobs have been lost, many thousands more left hanging in the balance.
The indications and the expectations are that 2009 will be no easier.
Bargain chain MK One, behind-the-scenes suppliers Merristem Holdings,
exclusive label Allegra Hicks, specialist retailer Sound Control, the UK's
largest instrument retailer, and long-established brand Whittard of Chelsea
have all fallen.
Some, like USC, Joy and The Officers Club, have been rescued. According to our
estimates, more than 50,825 jobs have been affected or threatened by the
retail upheaval, though this figure includes jobs which have been saved.
While the difficulties at Woolworths predate the credit crunch and subsequent
downturn, the 99-year-old chain, once a fixture on every high street, has
been the biggest casualty. The last of its 800 stores will close in early
January.
December 20 2007
Ponden Mill, homeware retailer
More than 40 redundancies, and 1,300 jobs at risk
135 stores and 80 concessions run by owner, Martson Mills
Founded 1968
January 21 2008
Dolcis, the shoe shop
1,200 jobs at risk
185 stores and concessions
Founded 1863
Dolcis
becomes first high street casualty
In February, Stylo, which trades as Barratts and PriceLess shoes, takes on
Dolcis's trading stock and brand name
January 26
Stead & Simpson, shoe retailer
3,000 jobs at risk
375 stores
Founded 1834
Rescued immediately by Shoe Zone
Shoe
Zone comes to Stead & Simpson's rescue
February 1
The Works, discount bookseller
1,600 jobs at risk
317 stores
The
Works collapses with 1,600 jobs at risk
February 8
Base Menswear, a fashion chain for boys and men
20 stores, mainly in the south east
Founded 1908
February 26: Marc Granditer secures backing from an unnamed investor to buy
back 13 shops
February 10
Elvi, the plus-size retailer
80 stores and concessions
Founded 1940s
February 26
Select Retail, women's fashion chain
800 jobs at risk
375 stores
Founded 1973
Select
Retail chain goes into administration
April 1
Toyzone, toy retailer
200 staff, plus 20 staff at Youngsters, its parent company, which is placed
into administrative receivership
20 stores
April 7: Bought by York-based toy and stationery distributor JA Magson; 200
jobs saved
April 1
Sleep Depot, bed retailer
400 jobs lost
100 concessions, mainly in Land of Leather, plus a number of stores in
Scotland
April 15
Ethel Austin, discount clothing chain
2,800 jobs at risk
300 stores
Founded 1934
Ethel
Austin is latest victim of slowdown
May 19: 2,500 jobs saved when Ethel Austin bought by Elaine McPherson, former
chief executive and part-owner of MK One
April 30
Sound Control, UK's largest musical instrument retailer
338 employees; 164 jobs lost immediately
26 stores
May 7
Fabric Warehouse, homewares and curtains chain
160 jobs lost immediately
31 stores
Fabric
Warehouse joins credit crunch victims
May 14: Caldeira Retail buys 10 of the 31 outlets
May 21
MK One, budget clothing chain for girls, women and teenagers, fails
after Baugur, the Icelandic investor, sold it to Hilco, the retail recovery
specialist
2,500 staff
172 stores
MK
One falls into administration weeks after sale
Sold to Mark Brafman, its founder
June 25
Ilva, Danish furniture chain
400 jobs at risk
Three out-of-town stores
Entered UK 2006
Ilva
places its UK business into administration
July 3
ScS Upholstery, furniture maker
1,300 jobs
96 stores
Sold to US private equity company Sun Capital Partners in pre-pack
administration
July 31
FrostFrench, fashion label
Two outlets
Founded 1999
Rescue deal funded by consortium of foreign investors saves first store and
gives rise to new company name FrostFrench London Retail
August 3
Wrapit, wedding lists company
100 staff
15 showrooms, handles 3,000 wedding lists a year
Founded 2000
Wedding
lists firm Wrapit goes into administration
September 25
Rosebys, household linen and furnishings retailer
2,000 employees
280 stores
Shudders
through the City
Edinburgh Woollen Mill buys 77 outlets in November
Willis Gambier, furniture designer and exporter
130 jobs at risk
Founded 1990
Furniture
supplier to M&S falls into administration
Sold to Samson Holdings on October 7
September 26
Joy, clothing and homewares retailer
370 staff
28 stores
Bought out of administration by Louche London on October 8, saving 12 stores
and 150 jobs
October 1
Sixty UK, company behind Miss Sixty, the young fashion brand, and
Energie
250 staff
12 stores, plus wholesale business and concessions in House of Fraser and
Selfridges
Miss
Sixty puts stores into administration
October 10
Hardy Amies, Savile Row tailor and dressmaker to the Queen
Six stores
Founded 1946
Hardy
Amies faces administration after request to major shareholder for cash
injection is turned down
November 5
Meristem Holdings, maker of flatpack furniture and key supplier to
Argos
270 employees
Retailers
feel the jitters as key Argos supplier collapses
November 20
MK One
125 stores - a number sold since May
1,400 jobs at risk
MK
One goes under for the second time this year
Bought by Internacionale, Glasgow-based fashion retailer
Allegra Hicks, luxury fashion brand stocked in Harrods and Harvey
Nichols
Founded 2003
Rescued a week later by newly-formed company AH Lifestyle
November 26
MFI, furniture retailer
260 jobs lost immediately; 1,000 jobs at risk
111 stores
Founded 1964
Another
1,000 jobs at risk as MFI goes into administration
November 26
Woolworths, high street chain
25,000 employees
800 stores
Founded 1909
Woolworths
stores to close after Christmas
December 4
The Pier, furniture retailer
400 jobs at risk
31 stores; 17 concessions
Crunch
claims new victim as The Pier collapses
December 12
Strategic Retail, furnishings retailer that owns the Fads, Leveys
and Texstyle World chains
350 jobs at risk
47 stores
Grim
holidays loom with spread of redundancy
December 12: Former non-executive director Roy Gabbie buys 27 stores
December 23
Whittard of Chelsea, tea and coffee merchant
950 employees
1,380 stores
Founded 1886
Whittard
collapses as EPIC plans a deal
Immediately sold on to EPIC, the private equity company
December 24
Zavvi, CD and DVD retailer
3,400 jobs at risk
Zavvi
goes under in more high street pain
The Officers Club, menswear retailer
150 stores
900 jobs saved immediately as chief executive, David Charlton, buys 118
stores, but hundreds more lost
December 29
USC, branded fashion chain
300 jobs expected to go; 1,127 preserved in sale of 43 stores to Sir Tom
Hunter
58 stores
Sir
Tom Hunter's USC sent reeling by Boxing Day rent demand
December 31
Adams, children's clothing retailer, goes into administration
3,200 jobs at risk
About 260 stores
Founded 1933
Adams
set to follow fashion for retailers to go under
