Important and worrying economic news sneaking in below the radar is of various current and impending failing retailers. Falls in ‘discretionary spending’ (ie stuff you don’t need to buy keep you alive) are often the first sign of a downturn/pause-in-growth/recession/Hard Times ahead. Toys Are Us (I know) and Maplin are going down. H&M’s required turnaround is said to be ‘too big’, Debenhams, House of Fraser and New Look are amongst many others said to be ‘struggling’. So log out of Amazon, grab your credit cards, head for the High Street and save Independent Britain before it’s too late.
“Arcadia collapse sees 10,000 pensions head to PPF”
“So will Arcadia’s employees lose their pensions?”, asked the R4 interviewer. “No, no, they’ll get at least 90% of their entitlement paid by the Pension Protection Fund” said the Philip Green apologist (“he just didn’t have the skills to be a retailer”). And how is...
