High Street bust and boom
Experts debate the future of the high street. Richard Hyman of Deloitte warns against reading any positivity into a couple of days of shopping mania over Christmas. Dan Coen of Zolfo Cooper declares that the days of a need for a property on every high street are over and Julie Palmer of Begbies Traynor foresees games of cat and mouse between retailers and landlords, the latter who, she believes, will be threatening to seize assets but not really wanting to.
The Observer finds some good news in the retail mire, saying that the corporate restructuring and recovery industry is booming on the back of the high street’s woe. The Independent agrees: “Such roles are hugely lucrative for accountants”. The Express predicts that Blacks Leisure will become the first pre-pack administration of the new year. Meanwhile, Company Watch, predicts that corporate insolvencies generally will soar to 25,000 this year. The majority will be SMEs, although 310 AIM companies are at risk.
Source: The Sunday Times Business; The Observer; The Independent on Sunday; Sunday Express
Posted on 02 Jan 2012