4 ms·
Raters was well placed amongst jewellers to ride the recession. I remember the news coverage of this well - the decline in sales was rapid and directly attribut
by timthorn 7y ago
Raters was well placed amongst jewellers to ride the recession. I remember the news coverage of this well - the decline in sales was rapid and directly attributable to the speech, and the implication that his customers were mugs.
- NikkiA 7y agoBased on what? they were selling cheap costume jewellery to the working and lower middle class, both of which were exceptionally squeezed by the 10 years of thatcher that had just ended. Luxuries are typically the first thing to go for those close to poverty in a recession. I would argue that Ratners were uniquely placed to suffer the worst in a recession, and that they hadn't collapsed during the aftermath of Black Monday is the bigger surprise.