Thorntons, Jane Norman and Habitat announce high street closures

The face of the high street is set to change dramatically as several big name retailers close their doors for the last time. Jane Norman, TG Hughes and Habitat are just three of the stores that have announced that they are calling in the administrators. Popular chocolate retailer Thorntorns will also close around 180 of their stores after their leases expire, a sad end to its 100th anniversary year. One company that has escaped the current doom and gloom of the high street is sofa retailer DFS which has announced a 3.1% increase in profits along with plans to open eight new stores. Things are not looking as positive for chain stores such as JJB Sports, Game and HMV who are all reducing their high street outlets. Mothercare will also review their current high street locations in order to focus on the growing popularity of out of town retail parks.

It is expected that fashion chain Jane Norman will be sold fairly soon through a pre-pack administration deal, at present both Debenhams and Edinburgh Woollen Mill have been named as potential bidders. Pre-pack deals are viewed as controversial due to the fact that creditors could potentially lose out as company debts are scrapped. The current bleak state of the UK economy was highlighted today as official figures show that there has been a further slump in household purchasing. The National Office of Statistics has announced that the actual number of products being bought has taken its biggest nosedive since the Great Depression.

Written by Diane Chamberlain, 28 June, 2011 - 22:01