TRADE NEWS NOVEMBER 2008

 

 

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Woolworths confirms administration
Troubled retail chain Woolworths has confirmed that it has fallen into administration.

Textile maker claims innocence in fake goods case
The owner of a textile manufacturing and import clothing company in Preston has claimed innocence following allegations concerning counterfeited goods and money laundering.

VAT cut drives Irish shoppers north of the border
Little can be done to stop shoppers in the Republic of Ireland flocking north of the border to take advantage of the UK's VAT sales tax rate cut, it has been warned.

Woolworths close to administration
High street chain Woolworths could fall into administration this month unless it manages to secure a buyer for its failing retail business, according to reports.

Chancellor cuts VAT to 15%
Chancellor Alistair Darling has announced an historic cut in the UK's VAT rate in a bid to encourage consumers to spend more money.

Retail sector 'being driven by discounts'
Small and local retailers were among those to slash their prices last month, as a wave of pre-Christmas sales swept across the nation.

Lingerie business to focus on wholesale operations
A struggling lingerie company is hoping to rally a comeback by dropping its failing retail enterprise and focusing on its core wholesaling activities, it has been reported.

Christmas delivers online shopping
Online retail sales are expected to rise to £13.2 billion in the last quarter of the year, driven by consumer Christmas spending.

BRC warns government of pressure on retailers
Retailers will continue to struggle in the face of the mighty credit crunch if the government continues to increase the costs of trading, it has been warned.

Wholesaler helps small retailers fight Asda
A local cash-and-carry company in Scotland has slashed its prices in order to help small retailers struggling to compete against a new Asda store.

Fraudster made £12,000 from eBay scam
An estate agent bagged himself £12,000 by selling counterfeit goods on eBay, York Crown Court heard this week.

Scottish consumers 'tightening their belts'
Small retailers in Scotland could struggle this Christmas because of falling consumer confidence, it has been warned.

Luxury fashion brand enjoys rise in wholesale activity
Clothing & fashions wholesaler Burberry has revealed stellar profits for the first half of the year.

Weak pound benefits Northern Irish retailers
Retailers in Northern Ireland are benefiting as the value of the pound drops against the euro, it has been reported.

Internet helps small retailers to fight downturn
Nearly half of all small businesses that advertise their firm and products online increase turnover by at least one fifth, new figures have revealed.

London sales superiority over UK 'dwindling'
The gap between retail sales in London and the rest of the country declined in October, according to the British Retail Consortium's (BRC) London sales monitor.

Cambridge retailers fight proposed Tesco opening
Small retailers and concerned local residents are rallying in Cambridge to prevent the opening of a new Tesco store in the city.

Wholesale slump for designer clothing company
Scottish clothing and fashions company Ted Baker saw its wholesale revenue fall by 21 per cent in the 13 weeks to November 8th, it has revealed.

Small retailers 'under threat’
Thousands of small retailers across the UK are under threat from the negative effects of a looming recession, it has been revealed.

Post Office to keep card accounts
The government has awarded the Post Office with a contract to continue offering card accounts used by millions of people to receive benefits and pensions.

Wind forces trade fair inland
A major trade fair has been forced to leave Torquay after 44 years because of the changing winter climate, it has been revealed.

Young consumers 'susceptible' to brands
Brand and product awareness is becoming increasingly important to young consumers that shop online.

Christmas cheer in store for small retailers
Despite the economic turmoil that has characterised much of 2008, British consumers still intend to spend big this Christmas.

Local shops play vital community role
Local stores are of vital importance to the wellbeing of communities, according to a new study commissioned by the Association of Convenience Stores (ACS).

Retailers told to expect flat sales this Xmas
Year-on-year growth in high street sales will stagnate at zero per cent this Christmas, retailers have been warned.

Keep Trade Local campaign comes to London
The Federation of Small Businesses (FSB) is bringing its Keep Trade Local campaign to the capital next week, aiming to shore up support for small retailers amid the economic gloom.

Christmas 'make or break' for small retailers
This Christmas will "make or break" the livelihoods of many small retailers, one industry expert has claimed.

UK traders invited to enter Retail Week Awards
Small business owners across the UK are being invited to put their stores forward for the Retail Week Awards, which this year features 11 categories.

Mary Queen of Shops to help Birmingham retailers
Birmingham city planners are determined to attract more independent retailers to the city centre and have enlisted the help of Mary Portas in a bid to achieve their goal.

London markets must support each other, says CGTA
The various wholesale markets which are dotted around London are an important part of the capital's culture and bring a lot to its economy.

Park Cameras bags Retailer of the Year award
Park Cameras has been crowned Independent Retailer of the Year at the 2008 Pixel Trade Awards Show.

Retail sales plummet to three-year low
High street retail sales for October fell to their lowest level in three years, new data from the British Retail Consortium (BRC) shows.

Scottish Asda store criticised by local resident
Plans to build a new branch of Asda in Larkhall, Scotland have been met with some very strong opposition.

Low interest rate good news for small firms
The Bank of England's decision to cut the UK's interest rates by 1.5 per cent has been welcomed by industry groups which champion small businesses.

BRC to launch new online retail sales indicator
The British Retail Consortium (BRC) has confirmed that it is launching a new sales indicator that focuses exclusively on online retail sales growth.

Small retailers voice optimism in Kendal
Independent retailers in the market town of Kendal remain optimistic about their prospects, despite a raft of worrying economic reports.

Portsmouth hosts bash for local newsagents
The owners of Hampshire retailer Keys News Highfield have earned the coveted south-east Newsagent of the Year award at a leading industry bash.

Argos under fire for 222% APR store card
Argos has come in for heavy criticism after it emerged that the retail giant is offering customers store cards with a colossal 222 per cent interest rate.

Emergency funding for ailing small firms
The economic slowdown is taking a heavy toll on the UK's 4.7 million small businesses, AFP reports, prompting a new funding pledge from the government.

Stolen goods warning for Worcestershire retailers
Small retailers in Worcestershire have been warned to be on the lookout for individuals selling knocked-off air fresheners.

 


 

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