The John Lewis Partnership, owner of the John Lewis department store group, Waitrose supermarket chain and more employ over 70,000 staff who are feared to face sever bonus cuts following last years equating to nearly 20% of their yearly salaries.

 
2009 could see a drop to an estimated 12% or less depending on the performance of the Partnership and with a hazy outlook of profits plummeting 30%. In the six month lead up to July 31 profits had already slipped 27% to £108m showing early signs of a tough year ahead.

 
Waitrose is jumping on the cheap chic band wagon by assisting its shoppers through the recession in the launch of a new budget range of products called Essential Waitrose. Whilst yet another store chain, Principles has been abruptly thrown into administration the reality of the succession of High Street ghost towns is becoming an impending reality.

 
Numerous economic speculators believe the recession will continue throughout the remainder of 2009 and well into the following year, and with VAT expected to rise once again to 17.5% the British Retail Consortium has urged the government to prolong the reduced rate of 15% for at least a month longer than the specified 31^st December 09.