Asians face ruin with closure of corner shops | india | Hindustan Times
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Asians face ruin with closure of corner shops

The shops will be history in 10 years, because of the march of supermarket chains into neighbourhoods, reports Nabanita Sircar.

india Updated: Jan 02, 2006 20:52 IST

The traditional, much-loved corner shops will be history in 10 years, because of the march of supermarket chains into neighbourhoods, according to a leaked report by MPs.

Most of these, around half of them are now owned by Asian families, who will be financially ruined and deprived of the only livelihood they know. The worst affected will be the elderly in low-income families.

The small retailers are shutting down at the rate of 2000 a year and now the total in Britain has come down to 20,000 from 30,000 in 2000.

The leaked conclusions have come as pressure mounts for a fresh Competition Commission inquiry into the power of the big four chains, Asda, Tesco, Sainsbury's and Morrisons.

Tesco made an extra £200 million in a year after moving in on the corner shops market. An Indian-origin corner shop owner in north London told HTUK edition that his three generations have run the business.

"We do not know any other trade. We do not know what will happen. Distributors might stop supplying us if we are not able to pay quickly or buy less items."

He is now trying to get his grown-up children leave and look for other vocations.

First Published: Jan 02, 2006 20:52 IST