1st July 2011
Among the well-known retailers announcing that they were in trouble were Thorntons, Habitat, TJ Hughes, Carpetright, Comet and Jane Norman.
Habitat, Jane Norman and TJ Hughes were among several to call in the administrators.
Meanwhile, HMV has sold its Canadian operations and is selling Waterstone's to reduce its debts against a background of collapsing sales.
Comet, Thorntons and Carpetright have all announced – have announced a slide in sales and between them plan to close dozens of stores."
More than 10,000 retail jobs face the axe as the British high street faces one of its most painful bouts of contraction since the second world war amid the biggest squeeze on household budgets for decades, concludes a report in the Guardian.