AN MP has expressed deep concern for the region’s economic fragility following the announcement of yet another two stores going into administration.
Labour’s Russell Brown said he was saddened to hear that music chain HMV had called in administrators on Monday and Blockbuster video store met the same fate on Wednesday, just a week after learning that shoe store DE Shoes was seeking new buyers for some of its shops.
It comes the same month as Jessops camera store announced its demise.
The MP said: “This news is deeply worrying. For the sake of those employed by HMV, we can only hope that administrators can find a future for the stores. The possible demise of HMV on the back of the closure of Jessops and the announcement of job losses at DE shoes just last week shows that our High Streets are in crisis.”
The internet is being largely blamed for the demise of these shops. Adrian Quine, Director of the British Online Retailing Association (BritORA) said “The internet offers consumers instant choice. Our member’s costs are significantly less that their high street rivals which ultimately means they can be more competitive in a very tight marketplace.”