Almost 45,000 UK retailers in financial distress this Christmas

Wed, 27 Dec 2017 | BUSINESS NEWS

It has been revealed that as many as 45,000 UK retailers are in financial distress this Christmas.

Sales have been affected by bad weather and a low number of high-street shoppers. Overall, retailers are set to face a particularly disappointing few weeks of trading following a relatively successful Black Friday at the end of November.

Julie Palmer, a retail expert at Begbies Traynor, said: “The increasingly frantic promotional and discounting activity we are seeing this week across the high street is simply not having the same effect on consumers as it once did,” she said.

“UK shoppers are savvier than ever and prepared to search online for the best deals, having grown wise to the gimmicks and discounts on offer in store, which many now realise may not be as good as they first appear.”

High street stores have turned to making heavy discounts in an attempt to draw custom, but there continues to be an almost 10 per cent fall in the number of shoppers out on the high street, driven by a 21% drop on Sunday 10 December, when there was heavy snow across the UK.

Online retailers are experiencing the most sales growth, with a 12 per cent lift on last year, but even so, a CBI survey of 109 companies this month suggested that online sales on Black Friday and Cyber Monday were “unspectacular”.

Palmer said: “I fear UK retailers are now in the midst of a perfect storm, with November’s interest rate decision, rising inflation, falling real wages, reduced credit availability and increasing Brexit uncertainty all combining to put unprecedented strain on household budgets this Christmas season, pushing consumer confidence to an all-time low.”


Share this article



Latest Businesses for Sale

Plastics Recycling & Reprocessing Plant Business
UK Wide

This well established and successful plastics recycling business which operates as a partnership is one of the largest and most significant recycling businesses in the south of England, with a well-earned reputation for the breadth of its services an...

Asking Price: £250,000
Turnover: £900,000

LEASEHOLD


Unique Corporate/ Family Sports & Interactive Laser Products
UK Wide

Good track record of sales across 70 countries, including the USA, with the product proving a popular attraction in the Leisure, Tourism and Corporate Entertainment sectors. Fully owned, protected technology: with no like-for-like competitor product...

Asking Price: Offers Invited
Turnover: £410,000

Sealed Glass Units Manufacturer
Hampshire, UK Wide

Established Since 1998 the business has become highly reputable and well known in its surrounding areas. Additionally holds a commercial customer base. Offers invited.

Asking Price: £368,000
Turnover: £618,856

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
10
 
Nov
 

BT to sell off its fleet division | DIVISION SALE

BT Group is preparing to sell its fleet management arm encom...

 
08
 
Nov
 

Open Cell to merge with Stratto | MERGER

Global investment firm, Digital Colony has acquired Open Cel...

 
06
 
Nov
 

Butcher chain falls into administration | ADMINISTRATION

Yorkshire-based butcher chain Crawshaw has fallen into admin...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
10
 
Nov
 

BT to sell off its fleet division | DIVISION SALE

BT Group is preparing to sell its fleet management arm encom...

 
08
 
Nov
 

Open Cell to merge with Stratto | MERGER

Global investment firm, Digital Colony has acquired Open Cel...

 
06
 
Nov
 

Butcher chain falls into administration | ADMINISTRATION

Yorkshire-based butcher chain Crawshaw has fallen into admin...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources