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BRC warn of riot costs to British businesses

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by Kay Mitchell

The British Retail Consortium (BRC) has warned that the riots will cause significant harm to British businesses as they count the costs of stolen and damaged goods.

The weekend riots in London have already spread to other parts of the UK and the BRC warned that retailers of all sizes had suffered damage.

Prime Minister David Cameron was forced to cut short his holiday to deal with the London riots. He said: “People should be in no doubt that we will do everything necessary to restore order to Britain’s streets.”

Meanwhile, David Frost of the British Chambers of Commerce (BCC) said: “We’re looking for very clear leadership from the prime minister to say that this wanton vandalism is going to be clamped down on as of today and we will not see any further moves or action as we’ve seen over recent days.”

Supermarket giants Tesco and Sainsbury’s closed a number of stores overnight with both saying a number of branches had suffered damage.

Banks have also been affected with the Royal Bank of Scotland closing half a dozen branches in London in affected areas.

HSBC closed four branches in Tottenham, Clapham, Upton Park and Deptford, while Lloyds said it had shut five branches.

Finally, Spanish banking giant Santander said last night’s riots forced it to close a dozen branches.

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News posted: August 9, 2011

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