UK retailers facing critical issues: Survey
24 Dec 2012
Nearly 140 retailers faced critical challenges despite Christmas being their peak trading time, according to business recovery firm Begbies Traynor.
Its UK business solvency survey found 13,700 more firms were in distress, a 35 per cent increase in the quarter to December.
It added many could face difficulties meeting their quarterly rent payment, due on Christmas Day.
The company predicts an increase in the number of both national and regional retail insolvencies in 2013.
According to the report, the worst affected retailers would include specialists in books, news and stationery, where distress signals were 85 per cent higher over the previous quarter.
Meanwhile, online retailers, supermarkets and shops selling decor and household goods had seen an improvement in sales, while traders of furniture, lighting, home decorations, hardware and paints had seen a combined 13 per cent fall in distress levels in the last three months, with homeowners deciding to "improve, not move".
