Business

Ikea provide a ray of cheer for Reading retail forecast

July 25, 2012

The new Ikea store is the highlight of a gloomy forecast for retail in Reading.

The furniture giant’s 19th UK store at Calcot stands out as the brightest development in the area in a report by Hicks Baker retail partner Fiona Brownfoot.

The gloomier findings are that UK’s return to recession coupled with the wettest spring on record and a 15 per cent rise in insolvencies, undermined confidence in the sector.

Research shows Reading is in 23rd position in the UK with an expenditure (excluding online) of £780m.

Read the full report here

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"How many local businesses will have to close down as a result of the new IKEA? I think we can predict a desert in the center of Reading and some of the surrounding out of town cetres as furniture stores are forced out of business."

I highly doubt it. I can't think of any retailer in Reading like Ikea. Not all home furnishing shops are the same. Look at other locations of other Ikea's, is Ikea the only furniture store in Bristol, Birmingham, Leeds... the answer is no they are not.

This store is going to regenerate a part of Reading that has been a dump for far too long.

frownieface
20/08/2012 at 18:24

When do Ikea expect to open this store?

WasteAccountant.me, Reading/Wokingham
30/07/2012 at 14:31

aaahhh - the Ryanair of furniture distributors...

hudson, reading
26/07/2012 at 15:00

How many local businesses will have to close down as a result of the new IKEA? I think we can predict a desert in the centre of Reading and some of the surrounding out of town cetres as furniture stores are forced out of business.