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Ideal Shopfitters, a shop fitting firm in Rutland, has gone into administration with the loss of 70 jobs.
Commenting on the administration, Nathan Jones the administrator said: “The retail sector has been hit by a drop in trade following the recession, along with a poor performance during Christmas and the subsequent increase in VAT. He went on to say that they were focused on selling the company’s goodwill and assets.
It does seem that retailers are going through a very tough time at the moment whilst other businesses are holding up quite well. There may yet be more bigger retailers to fall if consumer spending continues to be reined in.
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