Wednesday, November 5, 2008

UK retailers face tough time

Recently I was appalled to find out that there is an insolvency specialist who has compiled a list of 323 retailers it thinks stand a 70% or greater chance of going under by the New Year.

The idea is that banks will continue to finance retailers over the coming Christmas period, when a lot of retailers make a significant proportion of their money, This will be in the hope that this revenue is enough to keep them afloat.

The role of companies like Begbies Traynor is to rescue companies about to go under. Its therefore good business for corporate insolvency specialists to identify those who are not doing good business (think of this as the equivalent of a corporate dead pool)

Mark Fry of Begbies Traynor said:

"There is every chance we will witness a rash of retail failures at the start of 2009"


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