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Evolution of the high street 2007-2018

A step back in time 

We take a look at the retail brands which are no longer on the British High Street, have been taken over, moved online or digitally evolved between the 2008 financial crisis and the end of 2018.

This 10 year period has been punctuated with challenging conditions – from the beginning of the credit crunch which saw many retailers struggle to stay in business, to the inevitable move from offline to online shopping which has presented its own difficulties.

Retailers have been grouped into five categories: ‘buy out’, ‘ceased trading’, restructuring, clicks-to-bricks, offline-online partnerships. The list is by no means exhaustive, but the number and diversity of the businesses illustrates the decline of the British high street.

2007

Virgin Megastore

Virgin Megastore the entertainment retailer became insolvent after Administrators Ernst & Young declared the company bankrupt. The company went into administration due to falling sales and demand for their products simultaneously.

  • Administrators: Ernst & Young
  • Year Founded: 1971
  • Total Number of Employees: 14,666
  • Total Number of Jobs Lost: 2,200
  • Number of Stores: 125
  • Managing Director/CEO: Simon Wright
2007

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