Riots Cause Devastation for Retailers

 

Riots Cause Devastation for Retailers

The entire UK has spent the past 6 days looking in horror upon the devastation caused by the rioting that started in London on Saturday and has since spread to other areas of the country. 

Retail chains have seen considerable damage, with many stores closing early in surrounding areas to prevent further damage and to keep staff safe. After the looting of their Clapham Junction store on Monday 8^th August, Debenhams announced that it was closing two nearby outlets at Wimbledon and Eltham until the rioting had subsided.  H&M has also seen these impromptu closures, along with Foot Locker stores, which have seen some of the worst of the violence. Looted merchandise, including brand new trainers, has been seen dumped on street corners.

Image from www.INFphoto.com

A lot of the damage has been seen, and felt, by independent stores / businesses. Giselle, an independent tailoring store in Peckham, has seen a lot of their clothes destroyed or looted, including Wedding Dresses that were due to be picked up. The owner, Giselle Asante said “It is truly devastating. We cannot replace any of these things because we have made them all.”

Now the big clean-up operation is beginning, the true cost of the damage can be totalled. Although it is too early to estimate how much the rioting has cost businesses, the Association of British Insurers estimates the cost to insurers will run into tens of millions of pounds. David Cameron has pledged that “…£30 million is going to be given to businesses and local councils…” in order to help areas get back on their feet.

 

Image from crave.cnet.co.uk

However, the cost to business owners does not just stop at money. Many individual business owners are dependent on their stores being their livelihoods and in the worst hit areas it is unsure whether many of these business owners will survive the damage and loss.

By Adriana Panas-Webb