We’re having a lovely Christmas break after a very busy few months here at Tish Tash Toys. Despite the UK slipping deeper and deeper into a recession, we had a great last quarter and are very glad to have a few days rest. Luckily for our small family business, UK parents are still buying good quality wooden toys for their children, despite the continuing credit crunch. Shops seem to be going bust left, right and centre these past few weeks and all businesses have to re-evaluate themselves if they are going to make it through, especially when so many large and long running businesses are simply not making it through this current slump.

It’s disheartening to see more high street businesses going into administration, with Adams (the kids clothes shop) on the news today. There have been several chains going under lately including The Pier – a personal favourite of mine, selling eclectic furniture and household goods. Apparently 400 jobs have gone in their 31 British stores.

The shoe retailer Dolcis became the first big high street credit-crunch casualty in January with 89 stores and 600 staff made redundant.

Home textile retailer Rosebys collapsed into administration in September with 2,000 jobs going at its 280 stores and its distribution centre in Selby.  Apparently retailers linked to the crumbling housing market have been hit particularly hard by the downturn in consumer spending.

MFI left 1200 employees without an income in November 2008 and high street music store Zavvi went bust soon after. Zavvi will let 3,400 staff go when they close down.  Zavvi is better known under its former name, Virgin Megastores, the music retailer which was the basis of Sir Richard Branson’s business empire.

Another surprise to us this Christmas was a family favourite (we love their funky colourful crockery!) Whittards. This chain of 130 shops has been trading for 122 years and has 950 employees. Whittards of Chelsea has been bought by a private concern but it’s future is still uncertain.

Other high street traders suffering during the current economic climate include The Officers Club. Accountancy firm PricewaterhouseCoopers took charge of the company last week, axing 280 jobs and shutting down 32 of its 150 stores with immediate effect.

The sad demise of Woolworths after 99 years trading was probably the biggest shock for a lot of people this year, including their 30,000 staff. Everyone is used to seeing the famous firm Woolies on the high street and the recession seemed to really hit home when the stores started to close in December.

Clothing retailer USC is also set to enter administration as just one of the 1000 retailers who have gone out of business in the past year. Many shopkeepers are struggling in the ecomonic downturn. MK One has also bitten the dust.

It seems this is just the beginning of these business disasters too with insolvency experts warning that more than 10 national or regional retail chains risk going bust in the first month of 2009.

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