Austin Reid Announced Bankruptcy Management Procedures, The Electricity Supplier Squeezed "Too Fierce"

With the continuous emergence of online shops, the living space of physical stores is frequently squeezed.

According to the statistics of the British Retail Research Center, e-commerce and online stores are booming, making the survival crisis faced by the British entity stores unprecedentedly severe. The number of physical stores will continue to decrease. It is estimated that by 2018, the physical stores in the UK will be reduced from more than 280 thousand to 220 thousand, and about 300000 will lose their jobs.

It is an imminent and important test to find a suitable way to survive and develop.

Founded in 1900, all walks of life in Britain favor its suits. During World War II, the brand also made military uniforms for the British army.

Former British Prime Minister Churchill, Beatles Rock band and Ellizabeth Taylor and other celebrities were also Austin Reid's customers.

Today, however, the brand of the time-honored brand has fallen into bankruptcy.

In an interview with Austen Reed flagship store on Regent Street in central London, a salesperson said that Austen Reed used natural fine materials and exquisite workmanship. "I really don't understand why people don't like our suits."

Insiders pointed out that Austin Reid was in deep trouble.

The reason is that it fails to keep pace with its competitors.

Austin Reid, analyst at RSM, a business consultancy, emphasised that the products offered by the company were "lacking in consistency" and lack of product lines.

At the same time, Austin Reid's web page settings are not good enough, which is equally disappointing.

The bankruptcy administrator issued a statement that the reason for Austin Reid's dilemma was "

The enormous challenges facing the market "and" difficulties in capital flow "and so on.

Austin Reid's bankruptcy is not an example.

The day before, a 88 year old British department store, the British home store, also announced that it would enter the stage of bankruptcy management. Its 164 chain stores would be closed and about 11 thousand jobs would be left out.

In an interview with the British home shop in Oxford street, London, the reporter noticed that there were few customers and the staff looked depressed.

According to British media reports, the UK home store "has been challenged by cheaper and more technically capable rivals" with a debt of over 1 billion 300 million.

Last week, the British home store planned to sell some of its 164 chain stores to a sporting goods store, but because of the breakdown of negotiations, it had to start bankruptcy management.

Subray, Minister of state for business affairs, revealed 26 days ago that there was no immediate plan to lay off or close stores in the UK home store. Although it has entered bankruptcy management, it will remain open as usual.

It is reported that financial advisers and investment companies have replaced the original management of British home stores.

Dao Heng is actively looking for buyers for UK home stores. If there is no suitable buyer, the UK home store will become another large retail store.