Supermarket growth 'forces independents out of business'. By Dan Martin
The growing dominance of supermarkets has contributed to a sharp increase in the number of independent stores going out of business, according to a new report.
Insolvencies among food, drink and tobacco retailers increased by 45% during 2005 compared to the previous 12 months, while the total number has halved over the past 11 years, accountancy firm Grant Thornton found.
In 1994, some 64,205 food, drink and tobacco businesses were registered for VAT. By 2005 that number had fallen to 33,150.
Continued...
The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.
Registration is FREE and allows you to view all content, ask questions, comment and much more.
Or if you are already registered, login here
