Many of the worst hit areas were lower income areas of London. Where many local businesses suffered from goods being stolen and even worse seeing their business premises being completely vandalised or worse, torched to the ground. The British Retail Consortium (BRC) has warned many of the shops which were affected by the rioting may never reopen.
Some of the worst affected areas including Hackney, Peckham, Tottenham and Wood Green could have serious repercussions for a while to come, which the raving mobs were not aware of. Why would these criminals even care about the knock-on effect of their actions?
Redevelopment and funding to these areas are likely to be affected as investors think twice about returning to the high street, after this display of violence. Many low income London high streets have seen big retailers leaving for larger out of town shopping centres in recent years.
Some businesses attained huge financial losses after the widespread looting. Tesco reported damage in their Walthamstow store alone at £100,000. A big company such as Tesco will be able to withstand this kind of loss. They were up and running again by the Monday morning, but what about small family run businesses? There will be many shop owners whose insurance will not cover them.
Another business which was badly affected by the riots was the chain Carpetright, when one of their shops was burned down on the Saturday in Tottenham. Lord Harris the owner of the chain was well aware that his business would be able to afford the damage but mentions "It's the little entrepreneurs, people who have greengrocers and clothes shops I really do feel sorry for. Who is going to shop there now?"
The rioters also forced many businesses across London to close early during the unrest as people were afraid of getting caught up in the violence. People became particularly scared when the video of the young man getting mugged, after being injured during the trouble, spread across the internet.
The rioters ‘shot themselves in the foot’ as it were as they ruined their own communities where they and their family shop and work. Many say the riots were partly down to people feeling let down by the government and the police, with further unrest due to the bad economic climate which has left many people in the lower income areas of London jobless.
All kinds of businesses were affected by the riots. Many of the businesses in the affected areas were already struggling in the tough economy. How these people thought that the destruction caused would solve anything is a mystery.
Many London business owners were worried the trouble would arrive on their doorsteps. It was not just large retailers that were affected but small grocery shops, independent clothes stores and Hairdressing Salons In London.
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