TJ Hughes to go into Administration

The video discusses the economic challenges faced by High Street stores due to rising prices and stagnant wages. It highlights the impact of inflation on consumers, increasing expenses like food and child care. Retailers struggle to manage rising costs while keeping prices low, with rent issues exacerbating the situation. The video concludes with strategies for retailer survival and potential recovery, emphasizing the importance of finding a buyer to bring businesses out of administration.

What is one of the main reasons for the financial strain on both buyers and sellers?

• Increasing prices and stagnant wages

• Rising wages

• Lowering oil prices

• Decreasing food prices

How are retailers attempting to cope with the increased costs due to inflation?

• By absorbing extra costs while keeping prices low

• By increasing their prices significantly

• By closing down stores

• By reducing the quality of their products

What is a significant challenge for retailers during economic downturns?

• Finding new locations for stores

• Attracting buyers to keep businesses running

• Reducing the number of products offered

• Hiring more staff

What happens to the weakest retailers during tough economic times?

• They often go out of business

• They start new sales campaigns

• They expand their business

• They increase their workforce

What is the ultimate goal for a business in administration?

• To reduce staff numbers

• To find a buyer and continue trading

• To increase product prices

• To close down permanently