UK sportswear retailers hit hardest in riots
UK retailers face tens of millions of pounds in costs and losses following rioting, looting and arson in London and other UK cities, retail representatives have warned. Sportswear goods stores were particularly targeted by looters.
“It will amount to tens of millions of pounds in terms of damage to property, goods stolen, and of course lost business,” Richard Dodd, head of media at the British Retail Consortium told Reuters on 9 August, 2011.
In a statement, the BRC, which represents about 90% of UK retailers, called for urgent action to help shopkeepers protect property, as well as assurances that the police would use “robust” tactics to close down situations and ensure offenders were “suitably punished”.
London has seen the worst violence in the capital in decades in recent nights, with the unrest spreading to other cities including Manchester, Birmingham and Liverpool.
Mr Dodd expressed concern over the impact on retailers, who are already struggling to cope with difficult economic conditions.
“Many retailers were under quite a lot of pressure anyway, particularly some of the smaller independent ones who haven’t got big national resources to draw on, and undoubtedly in some cases it won’t be viable for them to start up again,” he said.
Sportswear and electrical goods stores have been the worst affected in the riots.
“As has been well publicised, a number of JD stores have been affected by the disturbances in London and other parts of the UK over the past few days,” said sports good retailer JD Sports, adding it was too early to assess the full extent of the damage.
The Association of British Insurers (ABI) said it expected the rioting to cost insurers “tens of millions of pounds”.
