How much will our High Streets change?

The big news today is that the Icelandic-backed Baugur Group will fall into administration after the nationalized Icelandic bank - Landsbanki - filed a petition for one of the major stakeholders. Landsbanki now has control over a number of Baugur's shareholders.

This also means that Baugur's shares in these companies - for example, a 39.5% stake in Jane Norman, around 35% in House of Frasier, and 35% in All Saints - are now up for grabs.

However, Drapers Online reported that it's still business as usual at the Baugur fashion firms - including Oasis, Warehouse, French Connection and Debenhams. Indeed, spokespersons from most of the named brands are keen to downplay the effect that Baugur's bankruptcy will have on their businesses, but according to an article in Guardian Unlimited all this could change depending on who buys the ailing company's shares.

It's all gobbledigook to me, I have about as much financial acumen as a monkey with a calculator. But even an arithmophobe like me can see that this could, and probably will drastically change the landscape of our High Streets as we know it.

My recent blog for Shuddo.co.uk looked at how many high street companies will be turning to the Internet for the bulk of their retail. Already many high street fashion retailers are embracing technology and using various social networking tools to reach out to a wider consumer base.

According to eMarketter, although shops on the high street are suffering, consumers continue to flock to online shops.

Top Shop, River Island and Miss Selfridge all have troupes of fashion bloggers engaging with us, the shoppers. And a new wave of creative thinking will probably see more unusual (and engaging) e-marketting techniques from these companies and many others.

Established online brands such as the footwear retail site Shudoo, and the lingerie site Figleaves are paving the way for the next generation of Internet shops, and this may help mold the shape of the (virtual) High Street of the future.