Retail Sector Under Pressure

If you’re operating in the retail sector and have been forced to close your premises, help is at hand if you’re struggling to pay your creditors. Campbell Crossley & Davis offer a wide range of Business Recovery & Insolvency Solutions. Please contact us today on 01253 349331 to arrange your free and safe virtual consultation

In the run-up to Christmas, new data from leading insolvency firm, Begbies Traynor, has revealed the full impact of the Covid-19 crisis and tough trading conditions, which shows that 39,232 retailers, including both online and bricks and mortar stores, are now in significant financial distress.

This figure from Q4 2020 (1st October – 9th December) is an increase of 24 percent on the same period in 2019 and is up 11 percent on Q3 this year. The figures also show that over 20,000 high street retailers and over 11,500 online retailers are now in difficulty, a rise of 22 percent and 27 percent respectively since the run-up to Christmas 2019.