How are chain stores coping with the recession? | ||||||||||||||||
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The credit crunch has affected many larger businesses and many people's lives. |
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Woolworths was a big business which got hit by the credit crunch and couldn't survive it. After Christmas all Woolworth's stores had sales and then in January all the stores were closed. |
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Our group went out in Hackney and interviewed people, asking them about the credit crunch. Nearly everyone said that they miss Woolworths and the pick n mix. They were all shocked about Woolworths closing down, as it was a big store and open for many years. The credit crunch had still is a big impact on their lives. |
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The closed down Woolworths on Mare St |
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It's bad news for local people in terms of getting access to goods and services. It's bad news for employees and it's generally bad for the area
Voxpop on Mare St, Hackney
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Martin Shankleman, BBC business correspondent gave us advice on how people could survive the credit crunch and how people should spend the money towards their expenses. |
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We are now focusing on other larger stores and wanting them to survive the credit crunch. |
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