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Tuesday, 1 March 2011

Primark sees slowdown on High Street

Primark, the discount fashion chain, has said there has been a "noticeable slowdown" in UK consumer demand since the start of 2011.   Primark posted its weakest sales figures for some 5 years sending the shares in its owner, Associated British Food,s falling yesterday by 6%.  Primark has been popular as bargain hunting shoppers have found their clothing to be good value.

The sales fall is significant because if Primark is finding trading tough then it is almost certain that other smaller shops are feeling under pressure.  Other retailers are also reporting some evidence of a fall in spending on the High Street, most noticeably John Lewis.  Surveys are reporting lower footfall as well with the fall most marked in the North. 

With JJB Sports trying to get through another CVA to rescue the business from administration there is no doubt that shoppers are beginning to tighten their belts. 

Just because JJB Sports does a CVA does not mean that it is the preserve of large companies.  A CVA can be used to restructure and rescue smaller retailers with as few as 3-4 outlets.

If you are struggling retailer read our pages written especially with retailers in mind.  Link below

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