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Retailers are reeling from the latest data announced by the Office for National Statistics! The data indicates a 0.7% growth in value of UK sales in October from the previous month as well as a 5.4% growth from the previous year.
The British Retail Consortium was quick to accuse the ONS of producing sales figures that “paint an overly rosy picture” of shopping in the UK. In truth, sales will have been generated by the early and heavy discounting by retailers. However, everyone knows that the practice of offering discounts cannot carry on long term without a negative impact on the retailers.
The BRC is keen to ensure that this “rosy picture” does not distract the Government from looking at ways to help struggling retailers. Planned increases in fuel duty, rises in business rates and unemployment have not gone away. Now is not the time for creative festive cheer…..
The last two weeks have seen yet another flurry of announcements regarding big high street names including Thomas Cook, Argos, Karen Millen and Coast.
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As part of the continued tightening of the restrictions on drone use within UK airspace, the latest amendments to the Air Navigation Order 2016 come into force on 30 November 2019.
H&M is the latest retailer to confront its landlords about this ‘two tier retail market’ in an attempt to explore and negotiate more favourable terms.
Ann Summers is the latest retailer to have entered into new voluntary deals with the majority of their landlords, rather than using the CVA process.
Partner and Head of Real Estate
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