Retailers endure one of the worst Januarys on record

by Andy Osborne on

It has been reported that UK retailers suffered their second worse January since the British Retail Consortium’s (“BRC”) survey began in 1995. Overall like for like sales were down 0.3% compared to 2011 and the 2.1% increase in total sales compared badly to the 4.2% rise recorded for January 2011. The worst hit sectors were non-food, food and drink and home accessorises.

It is thought that concerns have escalated about jobs, wages and household costs resulting in consumers reducing their spending. 

Are we likely to see more high profile retailers entering into formal insolvency procedures?

Businesses should consider their financial position and address concerns sooner rather than later or risk insolvency. Professional advice should be sought at the earliest opportunity where there are concerns.

By commercial solicitor, Nicola Whittle

 


For legal reasons only registered users can add comments

 

  

The posts on this site, including but not limited to images, links and comments left by readers, are an individuals own and don't necessarily represent Stephensons Solicitors LLP's positions, strategies or opinions. The content of blogs held here should not be construed as legal advice. While all possible care is taken in the preparation of blogs, no responsibility for loss occasioned by any person acting or refraining from acting as a result of the material contained here can be accepted by Stephensons, the author, or the publisher. If you are in need of legal advice contact us on 0333 344 4772. All comments posted are unmoderated and have not been edited before publishing, however if you have any objections to a comment please contact marketing@stephensons.co.uk.
 

Register to add comments to Blog

Stephensons legal blog