2013 - Recovery Road - A Timeline of the British High Street | Recovery Road – A Timeline of the British High StreetA Timeline of the British High Street

Jessops

Jessops the camera and electronics retailer became insolvent in 2013 after Administrators PWC declared the company bankrupt. The company went into administration due to strong competition from other electronic shops serving more up to date and useful technology. In December 2013 entrepreneur Peter Jones bought out the company and invested £4,000,000 into refurbishing it.

Administrators: PWC
Year Founded: 1935
Total Number of Employees: 2,000
Total Number of Jobs Lost: 1,534
Number of Retail Shops: 192
Managing Director/CEO: Frank Jessop

…2019: Currently Jessops has 58 locations and in the year to April 2017 sales rose 24% to nearly £100m. It has continued to trade by focusing on printing and appealing to all types of photographer – not only keen camera users but the new generation of smartphone users who want to see their selfies on (photographic) paper.

2013

Republic

Republic the fashion retailer became insolvent in 2013 after Administrators Ernst & Young declared the company bankrupt. The company went into administration partly due to the harsh economic climate, its main consumers were young people and with a high unemployment rate in young people, their consumers stopped spending. Consumers started going to budget clothes shops like Primark. 114 stores were bought by Sports Direct.

Administrators: Ernst & Young
Year Founded: 1985
Total Number of Employees: 136,000 (peak)
Number of Jobs Lost: 150
Number of Retail Shops: 121
Managing Director/CEO: Tim Whitworth

…2019: Any remaining stores were merged with USC, so as of 2019, Republic remains absent from the UK high street.

2013

HMV

HMV the entertainment retail store became insolvent in 2013 after Deloitte declared the company bankrupt. The company went into administration after they had been torn apart by the inexorable shift to consumers buying CDs and DVDs online, digital downloading and cut-throat competition on price from the big supermarkets and Amazon.

Administrators: Deloitte
Year Founded: 1921
Total Number of Employees: 4,350
Total Number of Jobs Lost: 1,600
Number of Retail Shops: 223
Managing Director/CEO: Trevor Moore

…2019: In December 2018 HMV called in the administrators again – the second time in six years. Today there are now 2,200 staff over 125 stores. Paul McGowan, HMV’s executive chairman said that the business had faced a ‘tsunami of challenges’ while outsiders say the business has continued to struggle to adapt to changing consumer habits including music, tv and film streaming. It remains to be seen what be the ultimate outcome for HMV in 2019.

2013

Dwell Retail Ltd

Dwell Retail Ltd the furniture retailer became insolvent in 2012 after Administrators Duff & Phelps declared the company bankrupt. The company went into administration after the founders left the business and a new management team was installed by Key Capital Partners. In June 2013, Dwell Retail announced that it had ceased trading with immediate effect, including the loss of 24 stores. Six Dwell stores reopened again in 2014 when the original founders bought the brand back, out of administration. In 2014 Dwell was acquiredbyt DFS.

Administrators: Duff & Phelps
Year Founded: 2002
Total Number of Employees: 300
Total Number of Jobs Lost: 300
Number of Retail Shops: 24

…2019: Dwell now has a transactional website and 36 stores across the UK. It has strengthened partnerships with key and former suppliers while continuing to improve its range and supply chains.

2013

Blockbuster

Blockbuster the DVD and gaming retailer became insolvent in 2013 after Administrators Deloitte declared the company bankrupt. The company went into administration after they failed to alter their business model in the face of changing consumer behaviour towards streaming content online. Met with strong competition in the streaming industry (Netflix) the company could not compete. It was unsuccessful in finding a buyer and all stock was cleared and remaining stores in the UK closed.

Administrators: Deloitte
Year Founded: 1989
Total Number of Employees: 4,190
Number of Retail Shops: 528

…2019: Up until 2018 there had been one remaining Blockbuster store in Oregon, USA. On this side of the pond a Blockbuster pop up video store opened up in London’s Shoreditch in September 2018 to celebrate the digital release of Deadpool 2. It was modeled in the style of the original 1989 outlets.

2013

Barratts

Barratts the shoe retailer became insolvent in 2013 after Administrators Duff & Phelps declared the company bankrupt. The company went into administration following a trading loss of £12.5m in 2008, on 26 January 2009 Stylo’s shares were suspended. Barratts and PriceLess soon went into administration and on 13 February 2009 Stylo itself went into administration. In 2014 Barratts brand and website was bought out again.

Administrators: Duff & Phelps
Year Founded: 1903
Total Number of Employees: 5,500
Total Number of Jobs Lost: 5,000
Number of Retail Shops: 380
Managing Director/CEO: Michael Ziff

…2009: There are no traces of the Barratts brand on the British high street in 2019, and while the website is still live it sells other well-know brands and redirects to other retailers.

2013