Two more high street retailers are feeling the effects of economic melt down. Barratts and JJB Sports have both been closing stores and shedding jobs.
High street shoe retailer. Barratts is to close 220 stores with a loss of 2,500 jobs. The company has been in the hands of a receiver and in spite of a management buyout not all stores can be saved.
Michael Ziff has led the management team in taking control of 160 stores and 165 concessions. This move will keep the Stylo, Barratt and Priceless brands alive and safeguard 3,500 jobs.
Despite a good Christmas JJB Sports saw its lifestyle division fall into administration, with 45 stores closing and 438 jobs lost as a result.
Both Barratts and JJB have been through turbulent times and they are not alone.
Extremely tough trading conditions are making it very difficult for many retailers and those that were struggling before the recession seem to be falling first.
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