Hundreds of shops across the 海角视频 have closed this year in what has been another tough 12 months for the retail industry. The sector continues to face a number of challenges including declining footfall on the high street and a squeeze on consumer spending.
In November, total 海角视频 footfall decreased by 4.5% year-on-year, down from -1.1% in October, while consumer confidence remained weak in the run-up to Christmas.
The chancellor’s Budget in October has also fuelled concerns among retail bosses, with labour cost hikes, such as employers’ national insurance contributions, adding to the burden.
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Sir Keir Starmer’s Labour government has pledged to reform business rates in a bid to help revive Britain’s high streets, with draft legislation published last month.
But the business rates reductions for retail, hospitality and leisure properties, which will be funded by a tax rise for the large business properties, won’t come into effect until 2026.
Helen Dickinson, chief executive of the British Retail Consortium, said: “New costs bearing down on retailers in 2025, including from rises in employer national insurance, national living wage, and packaging taxes, means investment in jobs, stores, and high streets will likely be curtailed. If the government wishes to bolster footfall and the growth and investment that would come with it, it must help retailers mitigate the impact of the £7bn additional costs they face from next year.”
According to the Centre for Retail Research nearly 900 海角视频 stores have been affected by retailer administrations in 2024 - and almost 18,000 jobs.
Here, we take a look at retailers that have appointed administrators in 2024...
Hadfields Bakery
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The Huddersfield-based retailer, which has 13 stores and a bakery in Hadley, went into administration in November and most of its staff were made redundant. The exact number of job losses was not disclosed at the time but around The company claimed cash-flow issues meant it was unable to pay wages due for November. It is the second time Hadfields has collapsed. The company, which was established in the 1960s, was previously bought out of administration by the owners in a pre-pack deal.
Homebase
DIY giant Homebase collapsed into administration in November and was bought out in a Chris Dawson. Mr Dawson’s company CDS Superstores, owner of The Range and Wilko, acquired the Homebase brand name, intellectual property and up to 70 of its 海角视频 stores. The shops will continue to trade under the Homebase banner but will eventually be turned into The Range stores, while the Homebase brand will remain online. Around 2,000 staff and some 49 stores are at risk.
i-Ride
Martlet Group, trading as i-Ride, went into administration in October with all staff at the Brighton-based cycle retailer made redundant. Martlet was “effectively liquidated” and its bike brand, Orro, was acquired by Baaj Capital investment company Baaj Capital in November. It has also bought the i-Ride name and all stock, according to administrators FRP.
Caviar House & Prunier
The airport retailer and restaurant went into administration in September, but after being acquired by SBC Sites and closing four of its sites it is no longer in administration.
CTD Tiles
The tile supplier and retailer, which had 86 outlets, went into administration in mid-August . Topps Tiles acquired the trademark, goodwill and 30 stores. In September, administrators Interpath Advisory announced they had reached agreements which will see a further 23 stores reopen. Stiled, which owns Tile Giant and Tile Choice brands and currently operates 49 stores across the 海角视频, agreed to take on 16 former CTD Tiles stores. Separately, Kajaria-海角视频P, a 海角视频 joint venture with New Delhi-headquartered tile manufacturer Kajaria Ceramics, struck a deal for seven stores.
The Floor Room
The flooring company, which traded from 34 concessions in John Lewis stores, went into administration a fortnight after Carpetright failed, causing the job losses of almost 200 staff. John Lewis was not financially involved in The Floor Room, but said at the time it was “committed” to supporting customers who had paid deposits or had outstanding orders with them. Administrators PwC told customers to contact payment card providers "about the possibility of obtaining a refund".
The Vampire's Wife
The cult clothing firm, owned by former model Susie Cave (wife of rock star Nick Cave), went into administration towards the end of July, although rumours of its demise started circulating two months earlier. Founded in 2014, the brand’s designs were worn by Britain’s rich and famous, including the Princess of Wales and Kate Moss.
Carpetright
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The carpet and flooring retailer was acquired by rival Tapi after appointing administrators earlier this year. Tapi acquired the Carpetright brand name, with the deal saving just 54 of the 273 stores and 308 jobs. Around 1,500 Carpetright staff were made redundant. The deal did not affect European Carpetright stores or other brands owned by parent company Nestware, such Keswick and Trade Choice. Carpetright had suffered after being hit with a cyber attack and declining consumer demand.
Smiffys
The fancy-dress retailer, which was established in 1894 and has four outlets in Newcastle, Liverpool, Oxford and Leeds, went into administration following a fall in sales and increased costs. It was rescued by US retailer California-based Ad Populum, which sells fancy dress, gifts and novelties and owns several brands, including Wizzkids, the National Entertainment Collectibles Association and Kidrobot.
Ted Baker
The US owner of high street fashion brand Ted Baker appointed administrators in March, putting hundreds of jobs at risk. Ted Baker is a British luxury clothing retail company focusing on menswear, womenswear, accessories, and fragrances. Authentic Brands Group (ABG), which bought Ted Baker in 2022, cited “damage done” to the fashion brand during the time Dutch company AARC had been running its Ted Baker stores and e-commerce business in Europe – a tie-up that ended in January.
The Body Shop
The high street cosmetics chain appointed administrators in February, putting jobs and 200 stores at risk . More than 100 Body Shop branches were saved after a rescue deal was struck with a consortium led by business tycoon Mike Jatania. His investment firm Aurea announced the completion of the acquisition in September. The group also gained control of the Body Shop's assets in Australia and North America.
Orange Bikes
Based in Halifax, Orange Bikes was founded in 1988 and specialises in hand-built performance mountain bikes. The company was rescued, together with its long-term precision engineering partner Elland-based P. Bairstow, by director Ashley Ball. The deal secured the jobs of 30 staff and saw Orange and Bairstow move operations into one site.
Tile Choice
The Midlands tile wholesaler and retailer, with 18 retail stores, went into administration in January. Nine stores were acquired by Tile Giant with the others remaining closed. The business had 116 staff and £16m turnover in the last financial year, but profits had fallen after a boost during Covid.
Sook
The first administration of 2024 was a retail pop-up specialist with a portfolio of spaces in London, Birmingham, Southampton, Liverpool, Newcastle, Leeds and Kent in the 海角视频, and one unit in Johannesburg, South Africa. The company was set up in 2019, designed to make space on high streets available to brands. Sook suffered from cash-flow problems and collapsed on Dec 31, 2023.
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