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List of UK Retail Store Sales

by Terri Potratz | November 20, 2008 at 04:31 pm

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The ramifications of the worldwide global economic crisis has had far-reaching effects; in the wake of store closings all across the US, it should come as no surprise that UK retail businesses are suffering as well. While some have already had to close their doors, others are responding to declining profit margins with premature sales. The following retailers are running special early sales this week to entice shoppers:

Marks & Spencer
Debenhams
BHS
Dorothy Perkins
Burton

The M&S sale was a one-day extravaganza on November 20, but it wouldn't be surprising if they held yet another sale before Christmas to pump up sales. And plus, not only can shoppers not afford to match what they spent in previous years on gifts, but they've caught on the fact that retailers are pushing discounts in order to boost sales. Those retailers who haven't yet jumped on the sale wagon may find that customers will prolong their shopping until sales take effect. Debenhams offered a slightly better sale than M&S: a 3-day extravaganza from November 19-21 with discounts up to 25%.

The news of sales comes amid news that Woolworths, a key fixture in the UK retail market for 100 years now, is in talks to sell off their 800-store empire to Hilco:

The Times newspaper said Woolworths was in talks to sell its retail business to Hilco for just 1 pound. It reported that Hilco was reluctant to take the group's pension liability, with talks focusing on the level of debt to be assumed.

"Whatever leak was made to the paper yesterday (Tuesday) is a little previous shall we say," said Hilco's McGowan, who declined to comment further.

At 7:58 a.m. EST, Woolworths shares were down 1.23 pence, or 32 percent, at 2.6 pence, valuing the group at about 38 million pounds.

Retail business analysts expect not only more pre-Christmas sales, but considerable scale-backs, bankruptcy claims and store closures as the UK retail businesses succumb to a struggling economy.