More high street shops go bankrupt, online outlets thrive: CBS

The number of shops that went bankrupt rose sharply between April and July, according to second-quarter retail figures from statistics agency CBS.
In total, 89 shops had to close their doors, compared with 66 in the same period last year. The number of bankruptcies in the economy as a whole fell by 7%, the figures showed.
The cause for the rise is not completely clear but competition from online shops appears to have played a role, CBS economist Marjolijn Jaarsma said. “The bankruptcies are occurring across the high street, and in different segments. Clothes outlets, for instance, have been struggling for a while,” she told the AD.
Established names, such as clothes shop Gerry Weber and home store chains CASA and Rivièra Maison were among the casualties.
The figures for the second quarter also showed that turnover had grown by 3.3% year-on-year. Not all retail sectors fared equally well, with consumer electronics sales falling 11%. Shops selling recreational products, such as sports equipment or camping gear, as well as chemists and DIY shops, increased their turnover.
At the same time, online shops saw their turnover grow by 9.6% compared to last year. Turnover remained around the same for shops that offer physical premises as well as an online service.
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