Debenham’s have today announced they are shutting their Eltham store. It follows an announcement today that profits have dropped 44%.
Sales across the High Street in the UK showed the worst performance since 2009. Consumer spending has been propped up by consumer borrowing running at an annual rate of 10% in recent years which was never sustainable.
It’s a big blow to Eltham High Street. I’ve recently covered how poor town centre management appears to be in Woolwich and Plumstead whilst Greenwich Council have been able to find £309,390 to hire a project manager for their Creative District plans at the Royal Arsenal in Woolwich.
Is Eltham similarly poorly managed? Would stronger management have seen Debenham’s stay? Probably not, though stronger lobbying and promotion of forthcoming changes may possibly have helped.
But then again those forthcoming changes envisaged under a recently adopted masterplan may go nowhere. When the first proposed housing development arrived before Greenwich planners recently they they it out.