Anxious wait for Huddersfield shopworkers as 66 Principles stores close

Mar 10 2009 by Roy Wright, Huddersfield Daily Examiner

FASHION store Principles has become the latest retailer to close its doors in Huddersfield town centre.

The shutters have been pulled down on the New Street shop – one of 66 Principles outlets to be axed by administrators in a move which means the loss of many hundreds of jobs.

The closure of the New Street store adds to a sorry scene on a once-thriving shopping stretch – following the demise of neighbouring retailers Adams, Zavvi, Woolworths and Pricless Shoes.

The latest blow comes as figures from the British Retail Consortium showed the value of high street sales fell by 1.8% last month – suggesting that a surprise increase in takings in January was driven solely by heavy discounting.

Researchers warned that more job losses should be expected as non-food retailers battle falling sales and margins as well as rising costs.

BRC director general Stephen Robertson said: “The short burst of spending unleashed by January clearances has largely vanished, replaced by sales as weak as most of last year.”

Online shoppers helped lift non-food sales by 12.3% compared with February last year.

Deloitte said it was continuing to trade 16 Principles stores – and that department store operator Debenhams was to buy up most of the Principles stock.

Joint administrator Lee Manning said: “Given current market conditions, we have been unable to find a suitable buyer to take the business on as a going concern.

“Debenhams will be acquiring most of the Principles’ shop stock, including that in the 121 concessions within its stores. We have given Debenhams a temporary non-exclusive licence to continue operating the Principles brand.”