Reading and the recession
I feel that I can’t continue without further mentioning the economic slowdown. One reason why I named this blog Reading Roars! three years ago was because of the roaring economy and Reading’s part in it (roaring capital of the Thames Valley). Well, our economy isn’t roaring any more. The lion has been muzzled. Who knows when things will pick up again?
It does puzzle me slightly to see shoppers still out in force, laden with big shopping bags (and I don’t mean supermarket bags). I say “slightly” as it is the run-up to Christmas, a number of retailers have been cutting prices and, I strongly suspect, the full force of the recession hasn’t quite hit us - yet. The downturn will hit us ordinary people soon enough. I guess that 6 months from now (or perhaps sooner, in January 2009) retail and hospitality organisations in Reading will struggle.
Which leads me to mention the town’s independent shops and restaurants. I know there are concerns about Woolworths, with some people believing that it’s a Reading institution (is it?), but it really would be a pity, in my opinion, to lose the smaller players in town.
Reading would be, to an extent, characterless or clone-like without them (can you imagine, for example, the UK without its traditional pubs?). Take Picnic, for example, whose cheery, committed staff make it special, and Sushi one0eight, whose founder Chris works extremely hard to keep his unique vision alive.
Whatever happens, it’s worth sparing a thought (and a pound or two) for our indies in town.
Matt Brady on December 4th 2008 in Business
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