PUBLISHED: 12:02 12 March 2019 | UPDATED: 12:02 12 March 2019 James Carr Duncan Adams, who owns Dunx Cycles in High Street, Lowestoft, has revealed the struggles facing independent businsses. Photo: James Carr. Archant An independent high street trader has revealed he is earning less than half the minimum wage as he battles against national chains and crippling taxes. Last month, Dunx Cycles - in High Street, Lowestoft - renewed the five year lease at its town centre location. While the news should be cause for celebration amid the seemingly weekly closures of businesses in the town - this is not the reality. “For me it’s no big accomplishment because I haven’t made any money”, admitted owner Duncan Adams, “I’m just hanging in there; common sense would say just to leave.”In recent weeks RopeWorks bar, along with Claire’s and The Body Shop have closed, while Beales department store will close at the end of the … [Read more...] about ‘I would love to earn minimum wage’: Independent high street store reveals struggles and future plans
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News / UK and world by Press Association November 9, 2018, 8:21 am FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Around 14 shops are closing on Britain’s high streets every day, according to a new study. Here are some of the major names to suffer during the worst retailing conditions for five years. Debenhams Gourmet Burger Kitchen Other restaurants that have undertaken company voluntary arrangements so far this year include Carluccio’s, Byron, Prezzo, Gaucho and Jamie’s Italian. House of Fraser He has said he will aim to keep 47 of the 59 stores open, with three closures in Edinburgh, Hull and Swindon already announced. Marks & Spencer Profits at the company have slumped by almost two-thirds due to the costly closure plan combined with a decline in sales across key departments. Homebase It follows a botched takeover by Australia’s Wesfarmers. Poundworld The business was hit by falling footfall, alongside … [Read more...] about Major high street stores hit by retail woes
A NEW tax for online retailers could be one step closer after Philip Hammond stressed the need to protect Britain's high streets. The Chancellor gave his strongest hint yet that he would slap a tax on online firms like Amazon to make sure the system was as "fair" as possible. Ministers have been consulting on how to change the digital economy to make sure it's taxed properly. Today Mr Hammond said: "We want to ensure the high street remains resilient and that taxation is fair between businesses doing business the traditional way and those doing business online. "That requires us to renegotiate international tax treaties, because many of the big online businesses are international companies. The European Union has been talking about a tax on online platforms businesses based on value generated." He added today that a tax based on value was "certainly something we'd be prepared to consider". New laws could include a tax on the turnover of retailers, rather than just their profits. Others … [Read more...] about Chancellor hints at extra tax for online firms like Amazon to help struggling high streets – but will it put up prices?
News / UK and world by Press Association June 26, 2018, 3:10 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Restaurant chain Hummus Bros has become the latest casual dining firm to fall into administration. The Mediterranean food chain had six outlets in London, but collapsed due to rising property costs and a fall in sales. In a statement posted on Twitter, Hummus Bros said: “The combination of the pound falling after the Brexit vote, which pushed up the costs of our raw ingredients, as well as property rents and business rates going up ever higher, make the high street a very difficult place to operate in at this time.” Ben Woodthorpe and Simon Harris of ReSolve Partners have now been brought in as administrators to the business. The company, which has been running for 13 years, said it had tried to find sources of revenue outside of its high street stores. It tried to set up in canteens of large companies, launched a … [Read more...] about Hummus Bros becomes latest high street casualty
PLANNING rules could be ripped up to breathe new life into Britain’s dying high streets, ministers declared today. As exclusively revealed by The Sun, Communities Minister Jake Berry has launched a “call for evidence” into the future of the high streets. And he signalled the Government could ease planning restrictions to make it easier to convert empty shops to residential homes in struggling town centres – and bring in new “attractions”. He also vowed to review car park charges slapped on motorists. As part of the review the public, for the first time, will be asked what “they want their high street to be like". Mr Berry said: “My department will usher in a new era for high streets and town centres to bring them back into rude health.” He added: “How do we bring people back to the high streets? We need to look at the all-round experience rather than just the product. “This starts at the planning stage, creating … [Read more...] about Planning rules could be ripped up in last-ditch bid to save Britain’s high streets