Methinks this has not been all caused by the current "crunch" .. but has been a long time coming. We all know the face of the High Street has bee changing, largely due to internet commerce. I think that current ecomonic conditions have merely hastened the process.
I would not disagree with that at all, as I witnessed what I believed was the real start of it in my trade in about 1990, in another financial crisis, with drastic cost cutting, flatterned management structures, and ruthless price competition on the High Street which as a senior retail manager of a international company had to tackle; not a good time at all, which had not stopped when I left that company in 1996 after 28 years.
In the national retail store company I then joined the same process was in hand and was still in action when I left in 2003, with the company being taken over shortly afterwards by Staples!
There are many companies out there now, like the last one I worked for, who rarely produce a bottom line profit in the current trading situation
. That cannot go on!
The internet has, and is, just hastened the process!
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Topic: Woolworths (Read 2187 times)