Fashion crisis costs the high street £700m: Experts fear another big name may go bust



Fashion sales suffered their worst decline in seven years as bargain hunters refused to pay full price for their summer wardrobes and winter woollies.
Shoppers have become used to heavily discounted clothing and many have been delaying their purchases until prices fall.
Retailers have also blamed changing habits of shoppers, who are instead spending their cash on eating out and experiences rather than updating their wardrobes. 
This caused fashion shops to lose almost £700million over the 52 weeks to the end of September compared to this time last year, a report shows.
The gloomy update... read more

 
17 October 2016 in Business, Views: 36
Source: Daily Mail
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