Retail collapses free up £4 billion for survivors
26 May 2009 09:35
It has been reported that the collapse of high street retailers such as Woolworths, Zavvi and MFI has freed up £4 billion of business for other retailers.
According to the Daily Mail, Marks & Spencer and Next will be most likely to benefit as closures in the clothing and footwear sector have seen £1 billion come up for grabs. Meanwhile, if the housing market stabilises then retailers such as Argos and John Lewis could have a chance at winning £885 million of consumer spending and the collapse of Zavvi means that HMV has a chance to gain £500 million of spending in this area.
The report is based on a study by Verdict Research, which suggests that between January 2008 and March this year, over 100 medium and large retail chains have gone out of business.
Retail news is updated every weekday and is provided courtesy of: 
