The recession is continuing to hit the high street, according to retail recruiters.

According to figures from PricewaterhouseCoopers, seven retail businesses are collapsing every working day.

Russell Crowe, managing director at Retail Kudos, told Recruiter: “There will always be winners and losers. Although the figures are accurate there are many retailers doing very well, for example, Dreams, the furniture retailer, is outperforming all others in its sector and many other retailers and etailers like Asos continue to dominate.

“There has simply been a shift in consumer spending habits with, for example, value-driven retailers coming through on top. Customers are savvy shoppers. Over complicated and poorly managed retailers will continue to struggle and die off unless they change their approach.”    

Kate McCarthy, managing director at McCarthy Recruitment, who attended last night’s Recruiter Awards in London, but still found time to talk to Recruiter early this morning says: “It is due to a lack of confidence. Retailers are reducing prices so their margins are being cut affecting the profitability of the business. And then there is the age-old problem with the banks not lending money. I think it is a combination of those three things.”