Jones Bootmaker is on the brink – but it's not all gloom on the high street

Bricks and mortar shops are squeezed by online sales and business rates; perhaps Inditex's Zara points the way

The news that Jones Bootmaker is on the brink of falling into administration is a reminder of just how tough life is on the high street. The 160-year-old shoe retailer may yet be rescued, but about 1,000 workers are unsure about their future employment.

Profits for bricks-and-mortar shops are being squeezed by the rise of online shopping, an increase in staff costs brought on by the introduction of the national living wage, and fierce discounting of the price of their products, which is designed to attract shoppers but hurts profit margins. On top of this is business rates - a tax that takes no account of falling profit and is now more costly than corporation tax for many shops.