Up to 140 UK retailers on the ‘critical watchlist’
JUST days into the New Year and already two of Britain’s best-known retailers – music and DVD chain HMV and camera seller Jessops – have become the latest casualties of the economic downturn.
Experts say the explosion in online shopping was a key factor in the demise of both chains, a point made by staff very clearly with a sign in the window of the Jessops outlet in Lord Street this week, see right.
Jessops has disappeared for good but there is still apparently hope for the HMV group, which called in the administrators earlier this week.
Its Liverpool One outlet is continuing to trade along with its stores across the UK.
Potential suitors are already said to be eyeing a rescue deal for the 92-year-old chain.
This week insolvency experts at Begbies Traynor warned that up to 140 UK retailers were in danger of going bust and were on the firm’s “critical watchlist”.