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If you’re anything like me, you’ll be thoroughly confused as to how it can be January 2010 already. 2009 seems to have gone by in a blur of drama and change for the retail world, as the industry struggled to stay afloat in the difficult market conditions.
January was perhaps the most traumatic month, as the final Woolworths store closed and SnapShop record 20 – yes 20 – retailers falling into Administration!
On the flip side of that of course are new market entrants, which also saw a decline in 2009. Falling from 110 in 2008 to 79 between January and December 2009, they struggled to offset the losses felt on the high street.
Interestingly, some retailers who may have been destined to die managed to breathe new life into their lungs by persuading landlords to agree to a CVA. Focus, Blacks and Flannels all took advantage of this rarely-used opportunity.
Though many property developments slowed down as redundancies in the sector increased in abundance, Aberdeen’s Union Square, Bath’s SouthGate scheme and the St David’s 2 shopping centres in Cardiff all opened successfully and continue to trade well.
And finally, towards the end of the year, we though Christmas was doomed as a veil of white snow fell across the country, creating panic and pandemonium amongst the hundreds of men who had left their Christmas shopping till the last minute – again! John Lewis was on hand, however, to provide a bed for those stranded at their High Wycombe store when the blizzards hit – aaaw!
It may not have been the best year, and it may not yet turn out to be the worst, but those who got through it are likely hoping for some reprieve in 2010, so here's hopping they get it!
Also in 2009…
- Co-Op completed its £1.5bn acquisition of Somerfield
- Primark was hit with more controversy over questionable ethics at some of its suppliers
- JJB Sports and Chris Ronnie got into a right old spat, ending with his suspension and a subsequent investigation into his dismissal
- Iceland’s economic crisis threw Baugur into turmoil – it eventually put its stakes in House of Fraser, Hamleys, Aurum and Iceland into Administration in February
- HMV ventured into new things, opening a cinema above one store, Orange concessions on the high street and taking stakes in various music venues
- New Look relocated their head office from Dorset to London
- Jimmy Choo collaborated with H&M
- Best Buy ramped up its UK entrance plans
- And importantly, M&S won its £3.5m teacake tax battle, to determine that teacakes were in fact cake and not chocolate-covered biscuits as they had been taxed for
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