Latest news with #businessclosures
The Sun
26 minutes ago
- Business
- The Sun
Our hidden corner of UK used to be thriving – now it's on its KNEES with nowhere to shop & overflowing bins everywhere
RESIDENTS have kicked back after their once thriving town has been brought to its knees in a major dispute with its council. One resident has claimed that the council's plans haven't 'worked so far', as businesses continue to close along the high street. 5 5 Monmouth, Wales, is a quiet town known for its eclectic shops. The town is home to a gothic souvenir shop and the oldest theatre site in Wales, but residents say that local businesses are struggling to stay afloat. Sherren McCab-Finlayson, Chair of the Monmouth Chamber of Commerce, has slammed the local council. She says that the council has enabled roadworks and building works to drag on, after expanding the town's pavements in 2020. Sherren claims this is preventing shoppers from parking and is driving down the town's footfall. Now, the once-thriving town is beset with empty shopfronts and dwindling numbers of shoppers. Sherren says: 'It all started in 2020. Monmouth was completely different before Covid. 'The council then widened the pavements for social distancing and said it would only be temporary. 'And yet years later we're stuck with these huge pavements because the council now doesn't have the money to dig them up.' Meanwhile, the council is pushing ahead with plans to install ' rain gardens' to create more spaces for residents to eat outside. Britain's retail apocalypse: why your favourite stores KEEP closing down Sherren claims that this idea 'hasn't worked so far' though. She added: 'The plan for rain gardens isn't popular. 'The extended pavements immediately reduced parking - leading to the town losing at least 20 parking spaces. Something which was always one of Monmouth's USPs was that shoppers were able to pull up for half an hour and do a quick bit of shopping. "There remains that need but it isn't possible in the town now. Shoppers often don't want to pay for an hour or two hours - they'll just go elsewhere if they have to do that." She claimed that water companies were doing work in the town for a year, leaving the town 'girdlocked', while scaffolding obscured shop fronts. Eirwen Rogers owns the Blessed Be Emporium but said that the chaos has made it impossible for people to find her business. Now she has been forced to transform the downstairs of the shop into a gaming and workshop space, out of 'sheer desperation to survive. She added: 'I have no opening hours at all now. I post them on Facebook every morning, because there are so few people in this part of town that sometimes it's not worth coming in. I am desperate for a massive reduction in my business rates. "I'm paying more than £700 a month business rates alone and they don't even empty my bins. It's impossible.' The Sun has approached Monmouthshire Council for comment. 5
BBC News
22-07-2025
- Business
- BBC News
Almost 1,000 night businesses shut in East of England in five years
Almost 1,000 night-time businesses have closed in the East of England in the past five years, according to the Night Time Industries organisation said in March 2020 there were 7,033 bars, clubs and restaurants across Bedfordshire, Hertfordshire, Cambridgeshire, Essex and Norfolk - but as of June this year that number had dropped to 6, bar Walkabout and nearby Nightclub Popworld in Chelmsford both announced that they were closing their doors permanently, while Mossy's Nightclub in Lowestoft closed for good in Kill, CEO of the association, said: "We are extremely worried, we definitely know that the late-night economy has been hit very hard." Mr Kill said there were many factors to venues shutting, such as rising operational costs, safety, transport and people lacking a disposable added that a work-from-home culture also led to people being less likely to visit pubs or restaurants on their lunch breaks with their colleagues."We have challenges with travel infrastructure post 11 pm, post midnight," he said. "Safety is a real issue; less police are on the street, and there are more concerns, particularly around the safety of women and girls."There are lots of issues, not just fiscal." 'Young people aren't clubbing' Steve Jason, who has run Peterborough nightclub and venue The Met Lounge since 1999, said there was a lack of interest from young people about going said: "The average age of our club night is probably 30, the majority of clubbing should be 18 to 21 year olds."In the past, the venue was filled with young fans of musicians such as Nirvana, Oasis and The Prodigy. But more recently, the club has put on themed events, such as Disney nights, to draw people in."Nowadays there's no such thing as a club regular... Now we have to diversify and think of different nights because nobody goes to a club four weekends running." "You speak to a lot of businesses, and they say 'oh, it's the cost of living', but no, it's not, Mr Jason said."They're making excuses... A youngster who's 18 years old probably has a subscription for this, a subscription for that- it takes away his or her money."He said young people choose to spend their money differently and saved for big events such as festivals over regular nights out. "Now they're paying for them over six months at £50 a month and that's one festival... You haven't got the money then to do anything else," he added. 'Not enough help' Paul Milsom is the managing director of Milsom Hotels and Restaurants - a family-run business since 1952 with venues in Essex and blamed Brexit, Covid and the cost of living on creating "challenging times" since said: "The challenges economically on all of our businesses are very similar."You have got to be positive to be in our game. But politically, we are not getting much help from anyone."I don't think the industry spends a lot of time crying out for more help; what it actually needs is less intervention by government and less tax burden."A HM Treasury spokesperson told the BBC the government intends to introduce permanently low tax rates for retail, hospitality and leisure properties from next year."We are a pro-business government that is creating a fairer business rates system to protect the high street, support investment, and level the playing field," they added. 'People drink less' Luke Hinton is the director of Juicebox Live, a music promotion company in business books all the live music at venues such as Hertford Corn Exchange and The Horn in St said: "We've been in a fortunate position that we've actually seen an increase in attendance year on year since Covid, but we've noticed that spend per head has decreased at both our venues. "People are spending less, whether it's a health reason or people are generally spending less when they go out, they may be pre-drinking, but I think there is definitely a change in people's behaviours" In August 2024, fans rallied to save Club 85 in Hitchin from closure and redevelopment into flats after the landlord retired. Although the venue is now open until the end of 2025 while its future is negotiated, Mr Hinton warned that many similar venues have already shut due to town centre developments."There's been development, lots of housing and flats in town centres, which then obviously doesn't translate into a positive for nightlife because then the noise complaints come in," he Hinton remained hopeful that people would return to venues if they saw the important role they played in the said: "It's about going out and being around people. I think that's the thing that humans should do, generally, is be in contact with others and socialise."I think that those places and hospitality places are a hub of that." Follow Essex news on BBC Sounds, Facebook, Instagram and X.
South China Morning Post
18-07-2025
- Business
- South China Morning Post
Is Singapore's food scene at a crossroads? Malaysia beckons as restaurateurs prize survival
In Johor Bahru, just across the border from Singapore , restaurateur Govinda Rajan is eyeing expansion. It has been only three months since he opened his first Malaysian outlet of Mr Biryani, but the veteran chef is already planning his next move. Back home, however, he paints a far bleaker picture, saying that his Singapore restaurants in Little India and Siglap are struggling to stay afloat amid soaring rents, labour shortages and shrinking consumer spending. Govinda had launched Mr Biryani in 2018, offering Singaporeans a Hyderabadi version of the beloved rice dish. 'Don't talk about profit margins any more, surviving is the priority now,' Govinda, 56, told This Week in Asia. He is not alone. Across Singapore, food and beverage (F&B) businesses are closing at the fastest rate in nearly two decades. A total of 3,047 establishments shut their doors in 2024, the highest figure since 2005's 3,352 closures. The casualties to date range from beloved neighbourhood fixtures to big-name international chains – among them, Crystal Jade La Mian Xiao Long Bao's 20-year-old Holland Village branch, the Michelin-starred Poise on Teck Lim Road, and foreign franchises such as Eggslut, Manhattan Fish Market and Burger & Lobster.
Yahoo
11-07-2025
- Business
- Yahoo
He closed his store after years of threats. Why Mexico's extortion problem is getting worse
MEXICO CITY (AP) — It started with a phone call to a men's clothing store in the heart of Mexico City's historic center. 'I need you to put together 10,000 pesos ($500) for me weekly, or else we'll have to do something,' the voice said. The owner hung up and didn't answer the phone again for days. But when another call came the following week, in a surge of courage and indignation the owner told the caller he wouldn't pay, that the money demanded would have been half the store's daily income. 'Well, prepare to face the consequences,' the voice said. Several years of escalating threats, visits from goons and armed robberies followed until the shop owner, who requested anonymity because he still fears retaliation, decided to close the store his grandfather had opened in 1936. Extortion is strangling businesses in Mexico. Much, but not all, of it is linked to Mexico powerful organized crime groups. While some larger companies eat it as the cost of doing business, many smaller ones are forced to close. The Mexican Employers' Association, Coparmex, says extortion cost businesses some $1.3 billion in 2023. And this year, while other major crimes are descending, extortion continues to rise, up 10% nationally in the first quarter compared to the same period last year. In Mexico City, the number of reported extortion cases nearly doubled in the first five months of 2025 to 498, up from 249 for the same period last year. It's the highest total at this point in the year in the past six years, according to federal crime data. A report to police goes nowhere After the first call in 2019, the store owner had his employees stop answering the phone for eight months. Things quieted, but in early 2020, two men came to the shop and demanded payment. The owner pretended to be a shopper and slipped out. In 2021, the weekly calls demanding money in exchange for 'security' resumed. Under advice of his attorneys, eventually stopped going into the shop, instead managing everything remotely. In one of several robberies, his employees were held at gunpoint, tied up and locked in a bathroom, while the thieves took money from the cash register. Finally, after two years of threats and robberies, he reported it to authorities. Investigators demanded proof from him that he couldn't provide because the threats were always verbal, he said. The investigation went nowhere. Only fraction extortion cases reported Reported extortion cases are only a small fraction of the reality. Mexico's National Institute for Statistics and Geography estimated that some 97% of extortion cases were not reported in 2023. Reporting is low because of a combination of fear and skepticism that authorities will do something. Mexico City police chief Pablo Vásquez Camacho said in an interview with AP that police were receiving more reports of extortion, but recognized that they still weren't hearing about many more. 'We can't solve something that we're not even seeing or that isn't being reported,' Vásquez said. The problem, said Vicente Gutiérrez Camposeco, president of the Mexico City Chamber of Commerce, 'has become entrenched' in Mexico and especially the capital in recent years. Daniel Bernardi, whose family has run a popsicle shop in the historic center for 85 years, was resigned to the situation. 'There isn't much to do,' he said. "You pay when you have to pay." Last month, the Mexico City prosecutor's office announced that it was creating a special prosecutor's office to investigate and prosecute extortion. Pay up or die In July, President Claudia Sheinbaum said she would propose legislation giving the government greater powers to pursue extortionists. This week, her administration also announced a national strategy to address extortion. There will be a phone number to anonymously report extortion; the power to immediately cancel phone numbers associated with extortion calls; local anti-extortion units to investigate cases and the involvement of Mexico's Financial Intelligence Unit to freeze bank accounts associated with extortion. Nationally, extortion cases are up more than 6% on the year. Extortion's rapid expansion has to do with the significant sums it generates for organized crime, drawing in the country's most powerful drug cartels among others. The Sinaloa and Jalisco New Generation cartels have made extortion 'one of the divisions of their criminal portfolios,' said security analyst David Saucedo. And with the cartels involved, small-time crooks take advantage of the fear and run their own little extortion rackets, pretending to be associated with larger organized crime groups. The Mexico City men's clothing store owner didn't know who was extorting him. But without help from authorities, he felt alone and exposed. The threats had grown stronger and they now said they'd kill him if he didn't pay. The owner recalled that a nearby restaurant that had opened around the same time as his own store, had closed after its owner was killed, supposedly after not paying extortion demands. So in December 2023, he saw no other option but to close. Little by little he watched old pieces of furniture carried out of the store that his father had passed on to him as his grandfather had passed it on to his father. 'When I closed I felt very sad. And then it made me so mad to think that I could still go on, but because of fear I couldn't,' he said. 'You work your whole life for them to destroy it.' Fabiola Sánchez, The Associated Press Sign in to access your portfolio
Daily Mail
05-07-2025
- Business
- Daily Mail
Alcohol giant lays off 1,750 workers after abruptly quitting business in California
America's second-largest alcohol distributor is laying off more than 1,700 employees after announcing it is pulling out of business in California. Republic National Distributing, a once-dominant company that linked famous beer and vodka brands with local bars, filed paperwork to lay off 1,756 employees. Staffers in sales, analytics, and HR roles across California are set to get their pink slips. The job cuts are coming as the Texas-based company plans to shutter its distribution operations in California by September 2. It's the latest warning sign for an industry that's already struggling with closures and job losses as Americans increasingly cut back on alcohol. There are reportedly three main reasons for the statewide departure: increasing debt, sky-high costs, and a loss of important contracts to competitors. Republic National has not suggested that politics have played a role in its decision, but it is re-investing in Texas with 100 new jobs. President and CEO Bob Hendrickson said: 'This decision is driven by rising operational costs, industry headwinds, and supplier changes that made the market unsustainable.' He added that the company is 'using this moment to sharpen our focus and reinvest in the markets where we're best positioned to grow.' California remains a conundrum for business leaders. Business in the state makes more money than any other US market. It's the fourth-largest economy in the world, but also one of the most expensive places to do business. But entering that market remains critically expensive, with high gas, rent, and labor costs. Republic acquired Young's Market, a distributor with a complex web of local hubs, in 2022. But company insiders weren't impressed with Republic National's attention to details. 'They started focusing on numbers instead of customer satisfaction and that's what drove them to their fall,' an anonymous California-based worker told specialist outlet VinePair. A former worker claimed the company was 'terribly run' and its execs were 'in over their heads' in the Golden State. Recently, the company also lost some of its most important contracts. Jack Daniels, Tito's, and High Noon all moved their business over to Reyes Beverage Group, a beer distributor with a long history in California. Losing those contracts represented a huge loss for the company, according to The Spirits Business, and nearly forced the distributor's hand in jumping ship from the nation's largest alcohol market. Industry analyst Impact Databank estimated Republic National made $2.8 billion in sales in California alone in 2022. The company didn't immediately respond to request for comment. Several other alcohol brands have encountered major business disruptions in the past year, as consumers hang up their shot glasses in an increasingly inflationary economic environment. In February, Alamo Beer Company, a San Antonio-based brewer, filed for Chapter 11 bankruptcy. Brüeprint Brewing Company, a North Carolina-based microbrewery, liquidated its business in April.
