Many customers at upmarket furniture chain Dwell are still waiting to find out if they will receive goods they have already paid for, or put down a deposit. It is estimated at least £1m worth of orders have yet to be fulfilled.
There has been anger that the company was still taking orders just days before it collapsed.
Mr Hood believed more retail casualties were inevitable: "We are far from seeing the end of the High Street cull."
His research was done on behalf of an independent review into the High Street led by retail veteran Bill Grimsey.
Mr Grimsey, the former chief executive of Wickes and Iceland, said the findings demonstrated how the structural changes taking place in retail were causing huge damage to High Streets and the wider economy.
"We can't just stand by and carry on fiddling at the margins. The current model for our High Streets is unsustainable," Mr Grimsey said.
Special report: The dark side of credit - a million new payday loans every month
An increasing number of people are taking out loans which they have little chance of paying back, due to the exorbitant interest rates and high fees
Sunday 30 June 2013
One million families are being forced to take out payday loans every month as they struggle to meet the rising cost of living, new research reveals today.
A poll for Which?, the consumer organisation, shows that nearly 400,000 of them use the high-cost loans to pay for essentials such as food and fuel, while 240,000 need the money to pay off existing credit. Half of the people who take out payday loans find they can't cover the cost of repayments – which can attract interest rates of more than 5,000 per cent – which means they are forced to take out new credit and spiral further into debt.
The figures are revealed ahead of a summit tomorrow between ministers, lenders and consumer organisations designed to tackle the problem. But the Government is refusing to push for a cap on the total cost that a person can owe a firm, one of the key demands by Stella Creasy, the Labour MP who has gone to war with Wonga and other "legal loan sharks" in the £2bn sector.
Ministers are 'powerless' to block £10,000 pay rise for MPs
David Cameron cannot block a £10,000 pay rise for MPs if it is recommended by parliament's independent advisers, a Government minister suggested today.
MPs believe they should be paid more to work in Westminster and their constituencies.
By Rowena Mason, Political Correspondent.
11:23AM BST 30 Jun 2013
Francis Maude, a Cabinet Office minister, said pay for MPs is not in the "control" of the Government, because it has been handed over to the Independent Parliamentary Standards Authority.
These advisers are likely to recommend a pay rise of around £10,000 for MPs this week.
The move is expected spark public fury at a time when the country is in line for years more austerity under Chancellor George Osborne's efforts to cut Britain's debts.
However, Mr Maude would not criticise the idea of a pay rise as he said MPs no longer have power over their own remuneration.
'Five depots closing... awesome teamwork, courageous leadership': Tesco distribution boss tweets his delight after pushing through 2,000 job losses
Distribution director Steve Strachota described the news as 'a bit of luck'
Among closing Tesco depots are those at Harlow, Weybridge and Chesterfield
Harlow MP Robert Halfon slammed move as 'callous'
By Nick Enoch
PUBLISHED: 18:38, 2 July 2013 | UPDATED: 18:41, 2 July 2013
An angry MP hit out at Tesco today after a senior boss gloated at the closing of five depots, with the loss of thousands of jobs.
The supermarket giant’s distribution director Steve Strachota tweeted triumphantly that the closures - and opening of three new depots - showed 'awesome teamwork, courageous leadership and a bit of luck'.
But MP Robert Halfon has slammed Tesco as callous for axing one of the depots in his constituency in Harlow, Essex - with the loss of more than 800 jobs.
He said: 'I find it sad that a company that I have had huge respect for seems to be so callous in their treatment of workers, many of whom have given more than 20 years of service to Tesco.
Seven people taken to court a day for failing to pay council tax.
by Safira Ali, Senior reporter Friday, July 12, 2013 (Romford Recorder)
Seven people a day were taken to court by Brentwood Council last year for failing to pay their council tax.
And thousands of households were in arrears from April 2012 to March 2013, the new figures show.
Tax of £1.9million was owed at the time the summonses were issued, a freedom of information request by the Recorder has revealed.
In the same year, the council took 2,754 people to court to recoup the money.
The council says it recovered £1.3m – leaving £650,000 still outstanding at the end of the period. Most of this has since been recovered.
Residents who fall behind in their payments are normally sent a reminder in the first instance. If the debt is still unpaid, a final notice is issued.
A summons to court is sent out as a last resort.
Resources committee chairman Cllr John Kerslake said: “As the public would expect of its council, we work hard to recover all money due so that we have the maximum possible to spend on necessary and valued services.
“For 2012/13, we have recovered 98.3 per cent of council tax debt and, for the previous year 2011/12, we have recovered 97.9 per cent.
“We always try to work with residents to come to an arrangement where possible.”
But Labour group leader Cllr Mike Le-Surf said: “This is a sure sign that people are struggling to make ends meet under the Tory-led coalition government.
“With the Brentwood Tories supporting government-led council tax benefit cuts this year, the situation will only get worse for many residents.”
Jonathan Isaby, from pressure group the TaxPayers’ Alliance, said: “Any cash that goes uncollected increases the bill for those who are paying what’s due.”
After a decade of council tax hikes, he added, it was no surprise some people were still struggling to pay. They should be given easier ways to meet the cost, he said.
“But the council should vigorously pursue those who simply refuse to pay because they are increasing the burden even further on hard-pressed families paying their way.”
Call for firmer grip
Lib Dem and Pilgrim’s Hatch ward councillor David Kendall said: “This Conservative administration needs to get a firm grip on this issue. A lot of money is being spent on utilising legal powers to recover outstanding council tax.
“The £650,000 still outstanding at the end of the financial year is the equivalent of a seven per cent increase in the council tax.”
Detroit has become the largest city in US history to file for bankruptcy after accumulating spiralling long term debt estimated at $18.5 billion.
Nick Allen By Nick Allen, Los Angeles
9:50PM BST 18 Jul 2013
Bankruptcy marked a new low for the “Motor City” which was once the heart of the country’s car industry, but has seen its population fall by more than half from 1.8 million in 1950 to less than 700,000 today.
In a letter with the filing Rick Snyder, the Republican Governor of the state of Michigan, said he had approved a request from Detroit’s state-appointed Emergency Manager Kevyn Orr to file for Chapter 9 bankruptcy protection.
Mr Snyder said: “It is clear that the financial emergency in Detroit cannot be successfully addressed outside of such a filing, and it is the only reasonable alternative that is available.
“The citizens of Detroit need and deserve a clear road out of the cycle of ever-decreasing services. The only feasible path to a stable and solid Detroit is to file for bankruptcy protection.”
He said it was time to “face the fact that the city cannot and is not paying its debts as they become due and is insolvent.”
Detroit stopped making payments on some of its of debt and obligations last month. The amount of money involved makes it by far the largest municipal bankruptcy ever in the US.
Mr Orr, a state-appointed former corporate bankruptcy expert who helped rescue the Chrysler car company, had released a plan in June to restructure the debt, but had warned he would be forced to see bankruptcy protection if negotiations with creditors failed.
The plan called for city-employed retirees to accept less than 10 per cent of what they were owed under pension plans.
But earlier this week the city’s two pension funds sued Mr Orr in an attempt to stop the cuts in retirement pay. An insurance group also threatened legal action.
A spokesman for Mr Orr told the Detroit Free Press shortly before the bankruptcy filing: “Pension boards, insurers, it’s clear that if you’re suing us, your response is ‘no.’” A court hearing in a case brought by city employees over the proposed pension cuts was to be heard on Monday.
If the employees had won it would have prevented the city filing for bankruptcy. Now that it has, the employees’ action is stayed.
The filing came as the credit agency Moody changes its outlook for the US economy from “negative” to “stable.”
Detroit has been beset in recent years by corruption, crime, and the collapse of the car industry, and has struggled to police its streets as people fled to the suburbs.
The murder rate is the highest in nearly 40 years, only a third of the city’s ambulances work, and police cars and fire trucks are also in poor condition. There are 78,000 abandoned buildings in the city and 40 per cent of the street lights do not work.
But this filing for Bankruptcy is a good thing it will herald the rebirth of Detroit.It needs a large scale destruction of its old infrastructure and derelict housing estates from this will rise a new town that people will be happy to live in.
For many Bankruptcy is the best thing to do it clears their debts and lets them get on the path of recovery.
Perhaps Queens trust might consider it.
“The fool doth think he is wise, but the wise man knows himself to be a fool.”
Food prices forecast to treble as world population soars.
Food prices tipped to treble over the next 20 years as an explosion in the world's population triggers a global fight for good.
Schools and hospitals will be told to buy more British food while families will be encouraged to grow their own, under plans being developed by Labour.
Professor Benton, from the University of Leeds, told the Daily Telegraph: "Food is going to be competed for on a global scale. There's been a lot written about where food prices are going to go but they are certaintly going to double, with some trebling. It's not just fruit and vegetables, but everything".
By Steve Hawkes
6:33PM BST 21 Jul 2013
A government advisor said everyday products such as cocoa and meat could become relative luxuries by the 2040s.
Professor Tim Benton, head of Global Food Security working group, added there could be shortages in the UK in the future as the emerging middle class in south-east Asia sparks a revolution in "food flows" such as the trade in grain and soya around the world.
Professor Benton, from the University of Leeds, told the Daily Telegraph: "Food is going to be competed for on a global scale. There's been a lot written about where food prices are going to go but they are certaintly going to double, with some trebling. It's not just fruit and vegetables, but everything."
The shock forecast came as the chief executive of Tesco, Philip Clarke, warned the era of cheap food was over because of the forecast surge in demand.
Never mind the royal baby, what about the economy?
If you think Britain is on its way back to prosperity, think again, it's a mirage.
It is one of the many wonders of our Royal Family that its babies are perfectly, almost eerily, timed with the economic cycle.
UK Plc has been patched-up but not cured and no amount of Royal magic can hide that depressing reality. The economy is in remission – drugged up on cheap money, subsidised credit and rock-bottom interest rates – and out of immediate danger thanks to some limited, emergency surgery by the Coalition.
By Allister Heath
6:31PM BST 23 Jul 2013
Prince Charles' birth in 1948 coincided with the start of a 25-year period of strong economic recovery, while Prince William's arrival in June 1982 heralded the end of a bitter recession and a quarter century of unparalleled prosperity.
On the face of it, history is about to repeat itself. The new prince will be greeted tomorrow by what will almost certainly be strong second quarter GDP figures and many will be hoping that these will mark the end of the crisis. But that, sadly, is implausible.
UK Plc has been patched-up but not cured and no amount of Royal magic can hide that depressing reality. The economy is in remission – drugged up on cheap money, subsidised credit and rock-bottom interest rates – and out of immediate danger thanks to some limited, emergency surgery by the Coalition. But it would be deeply irresponsible to give it the all-clear and premature to celebrate any uptick in the official statistics.
It is true that almost every single survey released during the past few months has shown a strengthening UK economy. Yet the big lesson from the bubble of the 2000s is that what statisticians deem to be growth can actually turn out to be an unsustainable mirage.
We appear to be falling at least partly into the same trap again, with the Coalition striving to engineer a debt-driven upturn based on the indefinite delaying of any sort of meaningful rebalancing. Rather than this being a genuine recovery, we are merely entering the latest stage in an ongoing bubble that began at the start of the previous decade and which keeps being reflated, with the painful but inevitable denouement still at least another crisis away.
Yes according to the latest poll we are happier and less stressed than a poll taken a few years ago.
We have the new Royals a hundred years of continuity and the bedroom tax has been declared legal by the courts.
Soon No Benefits for more than two children and Higher council rents will make things even better.
“The fool doth think he is wise, but the wise man knows himself to be a fool.”