Today on BBC it was reported that Blockbusters has gone into Administration which has been the fourth such high street retail company over the last 3 months go the same way, the others being Comet, Jessops and HMV in that order.
But does this mean, as the BBC and other media would have you believe, a down turn in the British Economy or trouble on the High Street but I think not as they, like many people, have missed the common cause to all these retail companies demise which was a total lack of the said companies to take into account of the effect of the Internet on their business and singular failure in all their cases to modernise their businesses to take this into account.
All the so called Credit Crunch did was to make their demise quicker than they expected as eventually all the companies in question were already on their way out.
But what these recent closures of retail companies on the high street has shown is a general lack of understanding of the effect of the Internet and new Technology has had on way people do business and buy things by both British Industry and Government. Both have failed to adapt, understand even grasp the basics of new Technologies to a point both British Industry and Government is simply failing in the modern world.
But in both cases rather than taking the bull by the horns they have stuck their heads in the sand in the hope that people will return old way of doing business even to a point of going to old and way tried methods of business in the hope it will work in the modern world.
Until both British Industry and Government wake up to the Internet and new Technology the current round of high street retail company failures will be just first of many especially as British Industry goes back old ways of doing thing rather than moving forward.
All this not helped by a British Government lead by a Political Party, the Conservatives, who seam incapable to actually lead a country into a new future but perpetuate the same old conservative values which frankly have no real place in our modern world and belong to older Britain now long gone.