The deal will bring together the two budget retailers
- which together employ scores of workers across Teesside.
8% at the end of last year, due in part to an improving economic climate, the continued rise of the budget retailers
and precious little new stock being built, the study said.
Supermarket price wars, budget retailers
and the use of contactless cards contributed to the drop, it said.
He said: "We are also seeing improved levels of enquiries from third party logistics providers and budget retailers
such as Primark, owned by Associated Foods , have thrived during the economic slowdown as consumers buy cheaper clothes.
In terms of price there is also added competition from budget retailers
like Aldi and Lidl.
The company, which at one stage ran some 300 stores, came under competitive pressure from budget retailers
such as Primark and Matalan before its demise.
But Debenhams said they were hopeful of sheltering shoppers from much of the increases and that budget retailers
were likely to be hardest hit.
Of the 360 stores under new occupation, more than one third (134) have been taken over by budget retailers
Terzi said that the current economy is helping budget retailers
in two ways: consumers are still spending at such stores and lower rents are making it easier for these enterprises to "scoop up" retail space at bargain prices.
According to the report, it is expected that budget retailers
focused on non-discretionary products would outperform in the short to medium term as consumers tighten their budgets in view of job uncertainties and weak sentiment.
She shells out pounds 69 a month on clothes, shoes and accessories aping trendy stars - which adds up to an annual pounds 828 outlay over 64 years, say budget retailers