Survey warns of more job losses (From The Wiltshire Gazette and Herald)

Survey warns of more job losses

MORE shops will go to the wall in 2005 according to a new survey.

Verdict Research claims retailers are experiencing the slowest growth for more than 40 years.

The firm warned that more could follow as higher interest rates, stagnating property markets and rising debts restrict retail sales growth to just 2.2 per cent this year. So far this year, retailers with sales worth £1.7 billion have gone into administration, were shut down or put up for sale including department stores group Allders and fashion retailer Pilot Clothing.

Verdict also said that price cutting on the high street has been 'unprecedented' with average purchases now 4.4 per cent cheaper than four years ago.