Scored 6.5 out of 20 and demonised because manufacturers sell electronics to the arms industry, have a poor record on workers’ rights and have stifled competition.. Independent corner shops are being swallowed up by “local” convenience stores operated by the supermarket giants. Convenience multiples – retailers operating at least 10 stores such as Tesco [...]
Scored 6.5 out of 20 and demonised because manufacturers sell electronics to the arms industry, have a poor record on workers’ rights and have stifled competition.. Independent corner shops are being swallowed up by “local” convenience stores operated by the supermarket giants. Convenience multiples – retailers operating at least 10 stores such as Tesco Metro and Sainsbury’s Local – have increased their sales by 18 per cent in the past year.Independent convenience stores now account for just half of all shops and only a third of all sales. According to the IGD, by 2010 independent stores will account for just a quarter of sales.Rhys Williams, analyst at Seymour Pierce stockbrokers, said the IGD’s findings reflected a general trend.
The auction followed the announcement a year ago by Lord Hesketh that he could no longer afford the huge costs of the upkeep of his estate. A 19th-century Sikh religious text, in ink and gouache, was sold for £12,000 to a group representing a Leamington Spa temple. And an opium pipe was bought by an American cartoonist working for The New Yorker, whose family had connections with the pipe’s original owner, William Sheraton.The close of the sale marks the end of a traumatic time for the family. Unless we want to become a nation of ghost and clone towns, we need regulators with teeth prepared to protect an open market.”. The sale of Lord Hesketh’s 400-year-old fortune has caused friction among family members who fear the former Tory treasurer and chief whip sold off important heirlooms.
Toys and sports equipment are thought to have been bought by cousins who still treasure memories of playing with them between the wars.But other items also found good homes. “Sainsbury’s and Tesco are both targeting the convenience sector as an area they want to grow,” he said. “Independent stores trading against them can’t compete and then they close.”Responding to the IGD report, Andrew Simms of the New Economic Foundation think-tank said: “This is not the working of a free market, but increasingly a feudal retail economy run by a handful of chain-store barons. Scored 1.5 out of 20, partly because it is owned by Altria, the recently renamed global corporation behind the tobacco giant Philip Morris.
Leave Your Response
You must be logged in to post a comment.