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Further woes on the high street as USC goes into administration

The UK high street has received more bad news today with the announcement that USC, the fashion retailer, has gone into administration. This is yet another well-known face to the growing list of administration casualties in the UK as the Christmas festivities come to an end. We are now seeing names appear which have not been mentioned over the last few months which highlights the sharp decline in trading on the high street.

There are further concerns that the liquidation of assets in relation to administration victims will further pull down prices at a time when those who are surviving need all the help they can get. As we saw with the Woolworths sell-off, stock prices have been plummeting of late and consumers are demanding more for their pound than ever before. There are more rumours of casualties on the high street and while there has been no confirmation as yet we can expect some well-known companies to go out of business over the coming months.

The government's VAT reduction seems to have had little or no impact on the high street and it is literally back to the drawing board for the UK authorities.

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