In four nights of rioting and violence in August 2011, many people lost their jobs, homes and livelihoods. And while the dust settled and the debris was quickly swept away, hundreds of small businesses faced economic hardship and a battle for survival. Within days The High Street Fund was set up to support small businesses and help restore some normality to the high streets affected.
Deloitte supported the fund from the outset, particularly through our Forensics department, which led the development of the fund, drawing on our expertise in administering and managing funds within challenging timeframes. Once established the High Street Fund raised £3.5m to provide emergency hardship relief to small businesses enabling them to secure and repair their premises and to continue trading as they waited for insurance and/or Riot Damages Act payments.
On 26 January 2012, Deloitte hosted a Thank You reception with the Mayor of London, Boris Johnson, to mark the closure of the High Street Fund. David Cruickshank, Chairman of Deloitte, said:
"Following the devastating riots of August 2011, Deloitte and its people saw the need to take a lead in assisting the businesses and communities affected by the civil unrest. I was extremely pleased to be approached by Sir William Castell to create and support The High Street Fund, which was able to help so many people. Our employees also assisted in the clean-up operation in Manchester, and we welcomed the opportunity to help get small businesses across the UK back up and running."
David Cruickshank, Chairman of Deloitte