Exclusive: ‘We Fear It Will Be Worse Than The Recession Of 2008’-Hornchurch Traders Warn Of High Street Crisis.

Retailers across Hornchurch are warning of a High Street crisis as soaring business rates push many to the brink of closure. “The majority of people on our High Streets now are traffic wardens.“-said one angry owner.

This week, concerned business owners met with Greater London Assembly Member Keith Prince to highlight the devastating impact recent rate hikes and reduced relief are having on local shops and restaurants.

Among them were the owners of Umberto’s, a beloved Italian restaurant serving the Hornchurch community for years. They told The Havering Daily that despite working seven days a week, they now earn just 5% of their takings after bills, tax, and business rates.

“The profit is a lot less now than last year,” said Gina. “We knew when Labour arrived it would be bad, but we actually fear it will be worse than 2008 with the recession.”

Johnny, the owner of Mandarin Palace, a well-known Chinese restaurant on Hornchurch High Street, added:
“The business environment at the moment is awful and this government has made it worse.”

Some retailers revealed that their business rates have more than doubled — in some cases jumping from £480 to £1,200, with no additional support in sight.

“We are lucky if we make any money at all,” said Enzo. “We see parking increases, business rates increase, police cut. All we see on our High Streets now are Traffic Wardens.”

Many businesses have been forced to cut staff, reduce opening hours, and scale back costs wherever possible just to survive.

Mr Prince also met With Sapan, owner of Fonehouse in Hornchurch who told him of the struggles he is facing and how his business could close as a result of his doubling business rates increase.

Keith Prince, who met with retailers this week, told The Havering Daily:
“It was a pleasure to meet with the owners of Umberto’s and Mandarin Palace. These are ordinary, hardworking people trying to make a living and serve their community. I was shocked to learn how big a negative impact Rachel from Accounts’ reduction on Business Rates Relief will have on them and their businesses. Everyone except her apparently recognises that our High Streets are struggling.”

He added:
“This massive reduction in relief for the leisure and retail industries will be crippling.”

As fears grow that Hornchurch’s High Street could soon become lined with empty shopfronts, business owners are urging action to stop the decline before it’s too late.

Stay up to date with all of our latest updates and content by following us on our social media accounts!

We have created community pages where we will share our up-to-date stories happening in the area. Add the area closest to where you live.