List of retail failing is growing

There’s very little joy left for retailers this season,” says C. Britt Beemer, founder of America's research group. “Wal-Mart continued to dominate shopping this year predicting a rash of financial problems for retailers in the wake of the dismal holiday season. A number of major names, such as Macy’s, are in trouble over the long run, and we will undoubtedly see more retail bankruptcies in the New Year.
NBR reports the list of smaller retailers being forced into receivership or liquidation is growing as consumers keep spending under tighter control.

Tie Rack was placed into liquidation by Corporate Finance and insolvency firm Staples Rodway is managing several recent receiverships such as high-end Auckland furniture stores Eon Design, which has this notice (above right) on its now-empty Britomart Place store.It’s also dealing with the receivership of Garlands Furnishing Specialists after 50 years in business and also managing The Fine Wine Delivery Company through voluntary administration, is trying to offload wine stocks from the recently closed Christchurch outlet.