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Which clippings match 'Economic Recession' keyword pg.1 of 3
14 JANUARY 2013

High Street music retailer HMV to appoint administrator

"Music and DVD chain HMV, which employs about 4,350 staff, has confirmed it will appoint an administrator, making it the latest High Street casualty. Deloitte will run the 239–store chain while it assesses prospects for the business and seeks potential buyers. Trading in HMV shares on the London Stock Exchange are being suspended, the company said in a statement. ... [Neil Saunders, the managing director of retail analyst firm Conlumin] said that although the HMV brand 'certainly has some value' for potential buyers, the current business model was dead. "The bottom line is that there is no real future for physical retail in the music sector," he said."

(BBC News, 14 January 2013)

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TAGS

19212013bricks and mortarbusiness into administrationbusiness modelclosurecompany liquidationcompetition • consumer downturn • debtDeloittedigital downloadsDVDeconomic recessionhigh streethigh street retailerhigh street shops • His Masters Voice • HMVincreasing competitioninsolvencyinternet retailersjob losses • London Stock Exchange • music chain • music downloading • music retailer • music sector • online retailer • online retailing • Oxford Streetphysical presencephysical retailphysical storeretailershopstore closuresstructural shifts in the sectorsupermarketssuspended tradingtradingUKunsustainableWaterstones

CONTRIBUTOR

Simon Perkins
14 JANUARY 2013

High Street camera store Jessops to close with loss of 1,370 jobs

"High Street camera retailer Jessops has shut all of its stores, resulting in the loss of about 1,370 jobs. Administrator PricewaterhouseCoopers (PwC), appointed this week, said the doors had been closed for the last time on all 187 stores in the UK. More jobs would be lost at the head office in Leicester, it added. Jessops became the first High Street casualty of 2013, after a raft of firms fell into administration in 2012, including Comet and Clinton Cards."

(BBC News, 11 January 2013)

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TAGS

193520122013bricks and mortarbusiness into administration • camera retailer • camera store • Clinton Cards • closureCometcompany liquidationeconomic recession • Frank Jessop • high streethigh street retailerhigh street shopsincreasing competitioninternet retailers • Jessops • job lossesLeicesterphysical presencephysical store • PricewaterhouseCoopers • PwC • retailershopstore closuressupermarkets • The Jessop Group Limited • tradingUK

CONTRIBUTOR

Simon Perkins
17 DECEMBER 2012

Designing the Bookshop of the Future

"What makes a good bookshop? Should second–hand be in the mix too? Is a café important? How do you incorporate digital? Foyles' clarion call at the Bookseller's FutureBook conference in London last week seeks to answer some of these questions.

The retailer has joined forces with the Bookseller to invite customers and industry experts to help design its new flagship on Charing Cross Road, which it will move into in early 2014. With discoverability of increasing importance, the timing couldn't be more apposite. Everyone is agreed that bricks and mortar bookshops are under threat, but what elements are needed to make a physical bookstore survive in an increasingly digital world? ...

'Foyles has to create something that gives people an experience,' said former London Book Fair Director Alistair Burtenshaw. 'It has to be a destination store, a shop in which people want to spend a considerable amount of time. It has to be an environment that adds value. When you make it a more personalized experience, you are happy to pay more."

(Roger Tagholm, 12 December 2012)

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TAGS

2014 • Alistair Burtenshaw • booksellersbookshop • bookshop of the future • bricks and mortarcafeCharing Cross Roadconference • consumer destination • Covent Gardencustomersdestination imagedestination storedigital worlddiscoverabilitydwell timeeconomic recessionenvironment that adds valueexperience design • Foyles (shop) • FutureBook (conference) • high streethigh street shopsincorporate digital • Livraria Cultura • London • London Book Fair • Miriam Robinson • personalised experience • Philip Jones • physical bookstorephysical presencephysical storeretailerSao Paolo • second-hand • shift to digitalshopspatial environmentsspend time • Stanfords Travel Bookshop • The Bookseller • UKuser experience design (UX)

CONTRIBUTOR

Simon Perkins
26 NOVEMBER 2012

Skillset Academi+ supporting the Welsh creative industries

"Skillset Academi+ was first piloted in Wales from 2009 to March 2011, during which time the scheme assisted over 350 industry professionals by running 54 courses. Having used this opportunity, which was funded by HEFCW, the Academy has fostered new partnerships with experts and has proven a track record of targeted training appealing to a wide cross sector of the industry. In 2012, the second phase of training will be funded by the EU's Convergence European Social Fund (ESF) through the Welsh Government. ...

The impact of digital technology, combined with the recession, has increased the speed of change within the Creative industry, transforming the way in which we operate. The focus of Skillset Academi+ is to enable Welsh companies and freelancers to re–skill through high quality and flexible training that is entirely tailored towards real industry needs in this digital age.

The concept for this training programme draws on hard evidence produced by Skillset on the impact of the recession and changes in digital technology on the Creative Media sector in Wales. Recently gathered research shows which skills are needed to help companies and freelancers weather the economic downturn and come out the other side with a competitive edge.

The content of courses offered by Skillset Academi+ has been shaped by feedback from industry practitioners on priority skills gaps and training needs."

(Skillset Academi+)

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TAGS

2012 • Aberystwyth University • Cardiff Metropolitan University • changes in digital technology • competitive edge • Convergence European Social Fund • CPDcreative industriescreative media industries • creative media sector • Creative Skillsetdigital agedigital technologyeconomic downturneconomic recession • ESF • flexible training • freelancers • HEFCW • impact of the recession • industry needs • industry practitioners • industry professionals • re-skill • skills gaps • Skillset Academi+ • speed of change • Swansea Metropolitan University • targeted training • the way we operate • training • training needs • University of Wales Newport • upskill • Wales • Welsh Government

CONTRIBUTOR

Simon Perkins
19 NOVEMBER 2012

High Street electricals retailer closes 41 stores

"The insolvent electrical chain Comet will close 41 stores by the end of November unless a buyer can be found. ...

Comet's demise was one of the biggest High Street casualties of recent years.

The electricals chain had been hit hard by the drop in consumer spending in the UK since 2008, which has been particularly acute in the case of the big items that Comet sells.

Many of Comet's customers are first–time home–buyers, according to Deloitte, meaning that business has been hurt by the much tighter conditions in the UK mortgage market."

(BBC News, 17 November 2012)

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TAGS

2012 • appointed administrators • bricks and mortarbusiness into administration • Christmas period • closing down sale • closureComet • continue trading • DeloitteDixonseconomic recessionhigh streethigh street retailerhigh street shopsinsolvencyjob lossesphysical retailphysical store • pushed to the brink • redundancyretailershop • store closure • store closuressuspended tradingtradingUKuncertain future

CONTRIBUTOR

Simon Perkins
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