Five questions answered on Republic, the latest high street casualty

Republic calls in the administrators.

After falling sales, high street retailer Republic has called in administrators. We answer five questions on the next potential high street casualty.

Why have Republic called in administrators?

Owned by private equity group TPG, Republic is said to have called in the administrators Ernst & Young because of falling sales in a fiercely competitive part of the high street. The company focuses on the youth fashion market, which is fiercely competitive and under pressure.

How many high street shops does Republic have?

The youth fashion retailer, which was founded in Leeds in 1986, has 121 shops in the UK and employs about 2,500 staff.

What will happen to Republic’s stores?

Some could be snapped up. However, Matthew Hopkinson, speaking to the BBC believes that because the vast majority of them are in shopping centres, they could be difficult to fill.

"HMV and others have also been sitting in shopping centres and therefore I think the number of units which have gone in the last few months in shopping centres will make it far harder than 12 months to refill them," he said.

What are the experts saying?

Anusha Couttigane, consultant at retail research group Conlumino, speaking to The Telegraph said: "Despite TPG, the US-based private equity group which owns the brand, claiming that underlying sales have remained strong, annual accounts for January 2012 indicated that gross profits were down by 9.17pc and it appears little has changed since then.

"Nevertheless TPG cites crippling rental rates as the main cause for the company’s breakdown, recently hiring KMPG in a desperate bid to offload some of its 121 stores.

"In light of this, news of its administration suggests that attempts to renegotiate monthly payments have failed, bringing the business to a complete standstill and landlords facing the prospect of more vacant units on the high street.

"Operating towards the value end of the market should have placed the retailer in a strong position to take advantage of the consumer trend towards low-cost fashion.

"However, its target youth market has been the hardest hit demographic of the recession and it has struggled to appeal to them as effectively as rivals such as Primark, ASOS or H&M.

"Fashion is a fast-moving industry where brand loyalty is fickle and Republic has failed to keep up with some pretty fierce competitors."

What other high street stores have gone bust recently?

Other high profile high street casualties include HMV, the camera group Jessops and the DVD and games rental company, Blockbuster, plus electronics supplier Comet before them.

Photograph: Getty Images

Heidi Vella is a features writer for Nridigital.com

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The Brexiteers' response to John Major shows their dangerous complacency

Leave's leaders are determined to pretend that there are no risks to their approach.

Christmas is some way off, but Theresa May could be forgiven for feeling like Ebenezer Scrooge. Another Ghost of Prime Ministers Past in the shape of John Major is back in the headlines with a major speech on Brexit.

He struck most of the same notes that Tony Blair did in his speech a fortnight ago. Brexit is a blunder, a "historic mistake" in Major's view. The union between England and Scotland is under threat as is the peace in Northern Ireland. It's not unpatriotic for the defeated side in an electoral contest to continue to hold to those beliefs after a loss. And our present trajectory is a hard Brexit that will leave many of us poorer and wreck the British social model.

But, as with Blair, he rules out any question that the referendum outcome should not be honoured, though, unlike Blair, he has yet to firmly state that pro-Europeans should continue to advocate for a return to the EU if we change our minds. He had a note of warning for the PM: that the Brexit talks need "a little more charm and a lot less cheap rhetoric" and that the expectations she is setting are "unreal and over-optimistic".

On that last point in particular, he makes a point that many politicians make privately but few have aired in public. It may be that we will, as Theresa May says, have the best Brexit. France may in fact pay for it. But what if they don't? What if we get a good deal but immigration doesn't fall? Who'll be blamed for that? Certainly we are less likely to get a good deal while the government passes up pain-free opportunities to secure goodwill from our European partners.

As with Blair, the reaction says more about British politics after Brexit than the speech itself. Jacob Rees-Mogg described it as "a craven and defeated speech of a bitter man". Iain Duncan Smith, too, thinks that it was "strangely bitter".

There is much to worry about as Britain leaves the European Union but the most corrosive and dangerous trend of all is that section of the Leave elite which requires not only that we implement Brexit but that we all pretend that there are no risks, no doubts and that none of us voted to Remain on 23 June. That Blair and Major's speeches - "You voted for it, so we'll do it, but it's a mistake" - are seen as brave and controversial rather than banal and commonplace statements of political practice in a democracy are more worrying than anything that might happen to the value of the pound.

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.