Another week, another couple of gloomy stories from the world of established brands.
Debenham’s announced that they were taking advice on a number of potential routes they can explore to strengthen their finances to avoid collapsing.
Across the high street, John Lewis group published their pretty shocking half year results, showing profits down 99% to just over £1m. £1m of profit from the total John Lewis and Waitrose estate.
Jeff Bezos personally made £8m an HOUR over the same period.
Ten years on from the credit crunch and firms are still collapsing
After 6 years of economic growth following the global credit crunch, why are so many established firms still struggling?
‘Changing consumer habits’ some companies say.
‘Challenging economic conditions’ say others.
‘The rise of the internet’ a lot of them blame.
‘Brexit’ MOST of them say!
But none of these things are new, are they? The internet has been properly upon us for over 20 years now. Consumer behaviour has been steadily changing for years with the advancement of technology. The exchange rate has been poor for a couple of years now.
The vicious spiral of price competition