Post by Totheleft on Jan 29, 2024 12:40:51 GMT
After years of Tony Government in Managing the Economy and the cost of living crisis.
It's having its toll on British Business
Superdry considers store closures as part of cost-cutting plan
Struggling fashion retailer looking at options including job cuts after reporting slide in sales
Superdry has confirmed it is considering a significant round of cost-cutting as the struggling fashion retailer contends with slumping sales.
The British brand is drawing up plans for potential store closures and job cuts after it reported last week that sales dropped by nearly a quarter in the six months to October. The delayed results were accompanied by the appointment of a new finance boss, the fifth in five years
More than 1,000 big retail chain branches closed across the UK in 2023 in widespread cost-cutting measures. The hospitality sector has been struggling with operating costs and the cost-of-living crisis forcing the public to cut back on non-essential spending.
Over 1,200 chain eateries and other hospitality centres closed their shutters for the final time this year, with an estimated 5,000 jobs lost.
estimated 20,000 jobs lost from big-name brand closures
649 banks close, taking account access away from those without internet
Over 1,000 branches across 40 household names have disappeared from high street.
