The cost of living squeeze has continued to make life tough for retailers - who have faced rising costs at a time when consumers have less money in their pockets
Rising inflation since the end of 2021 has baked in higher prices in areas such as food - causing a cost of living squeeze that has left consumers with less money in their pockets to spend. The increased costs of running businesses - including rising energy bills - has also made life difficult for shops.
Homebase Homebase collapsed into administration in November - putting 2,000 jobs at risk. Hilco, the company owner, had been looking to sell the struggling DIY retailer but could not find an outright buyer. Carpetright Carpetright collapsed in July with debts of almost £345m - with more than half owed to customers, suppliers, landlords and other unsecured creditors who, it was said, were unlikely to be repaid. More than 1,500 jobs were expected to go at the business after a rescue deal by its rival Tapi Carpets & Floors saved only a fifth of its stores and 300 staff posts.
The Body Shop The UK arm of Body Shop, founded in Brighton in 1976 by the late environmental and human rights campaigner Dame Anita Roddick, was put into administration in February this year. Owners Aurelius, who had paid £207m for The Body Shop in late 2023, admitted it could not revive its fortunes and it was put into administration owing more than £276m to creditors at the time.
It was reported the brand would continue to be available via wholesale partners such as John Lewis and House of Fraser.
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