With the financial downturn, loss of bank confidence and recall of loans it’s inevitable that well known brands will disappear from the high street.

Marks & Spencer, Curry’s and other brands are recording falling income. More concerning is the amount of investment owned by the banks in Iceland.

However, there is one glimmer of hope, and that it if the shopper should decide that an “enjoyable Christmas” to put all these miseries behind us is necessary and, as in the past, spends in the high street to blow away the blues.

If not then it won’t be just banks such as HSBOS, lloyds TSB and HSBC won’t be the only businesses shedding staff this year. Unemployment in the UK will increase sharply and perhaps we will be talking “depression” instead of downturn.

This entry was posted on Monday, October 6th, 2008 at 6:46 pm and is filed under Financial downturn.