» Hit by Internet Shopping and Recession – The Business’s That Just Couldn’t Cope

Hit by Internet Shopping and Recession – The Business’s That Just Couldn’t Cope

Blockbuster UK adds its name to the long list of household names that have entered administration in recent years as struggling families cut down on spending.

The number of High Street chains going bust has increased by almost a fifth in two years, figures released last week showed.

Some 194 stores and chains fell into administration during 2012, compared to 183 in 2011 and 165 during 2010, according to data from Deloitte.On Tuesday, entertainment giant HMV went bust following on from camera retailer Jessops just days earlier.

Last year saw the demise of Comet, La Senza and Clinton Cards, with JJB Sports, Blacks and Game also entering administration. But the number going under in the run-up to Christmas dropped, with 37 chains folding in the final three months of 2012, compared with 42 in the same period in 2011.

 

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