Economic recession in Britain is biting its retailers so hard that they are collapsing as fast as a decommissioned building after the explosive is detonated.
The latest big British retail brands which have been knocked down by the downturn include music, DVDs and games seller Zavvi, the third victim within 48 hours following the fall of menswear retailer The Officers Club and tea and coffee specialist Whittard.
Some 350 British retail companies have reportedly folded during the third quarter of 2008, according to a British insolvency service. The figure is 39 percent higher than a year ago. And 15 more big British retailers are predicted to meet the same fate by mid-January.
Zavvi's demise is a domino effect of the closedown of the general store Woolworths, a subsidiary of which was supplying Zavvi. Woolworths was due to celebrate its 100th birthday next year, but the ill-fated company has failed to survive the downturn and will be consigned to history by Jan. 5.
Woolworths is clearing out all its high street stores across Britain. Its store window notice announcing "last five days" in Hornchurch, a town on the outskirts of London reflects well the declining British economy and creates a psychological blow to anyone passing by.
To some consumers, Woolworths has become part of their life and its dying out means much more than can be imagined.
"I grew up with the local Woolworths. I used to buy Airfix plastic kits to construct planes and other models when I was a kid," said Peter Johnson, 42, a teacher from Hornchurch, adding "its closure makes me feel my childhood memory is disappearing."
