UK retail sales fell - who were the biggest casualties?
Blockbuster, HMV, Jessops and more.
UK retail sales fell in December - 0.1 per cent from the month before. For a December, this is bad: at 0.3 per cent the annual growth rate is the slowest since 1998 (excepting 2010).
Only one sector has been doing well: rather unsurprisingly, online retailers are fine. About 10.6 per cent of sales were carried out online during the month, compared to 9.4 per cent in December last year.
Companies from other sectors have not been as lucky. Here are the biggest casualties from the past year:
On 16 January the company announced it would go into administration. Online competition and posted rental videos had destroyed the business.
The company announced it was filing for adminstration on 15 Jan, overtaken by supermarket and online sales of CDs and DVDs.
Administration happened on 9 January. Competitors had been supermarkets, smartphone cameras, and internet camera vendors.
Went into administration on 2 November: the sale of TVs and other large appliances have mostly moved online.
5. JJB Sports
Announced administration on 24 September. Rival Sports Direct had wiped it out.
6. Clinton Cards
The company announced administrators were coming in on 9 May. Supermarkets and the internet had started selling greetings cards, and the company couldn't compete.
17 April went into administration. The economic downturn had caused major problems.