Mon, 25 Jun 2012 | BUSINESS NEWS
Insolvency body R3 has warned that the quarterly rent due day this week could force several more retailers into administration.
Shopkeepers will be expected to hand over three months’ rent in advance this week to landlords.
Lee Manning, the president of R3 commented: “Rent quarter day is typically the time when [struggling] retailers go into administration.
“Retailers are committed to meeting three months of obligations on their stores, while they often have pressure on cashflow at the end of the month from the payroll and maybe a VAT bill too.”
R3 made public the results of its research, which showed that 26 per cent of retailers are in the “caution” or “high risk” bands in regards to entering a distressed situation in the next 12 months.
Creditors are known to prefer retailers to enter administration at times in the year when shops have a surplus of stock that needs to be sold – at Christmas and at the end of June.
Since the start of 2011, 21,000 jobs have been lost in the physical retailing industry in the economic downturn due to fierce competition from internet retailers, with several retail failures including Game, Peacocks and Clinton Cards.
This is a unique chance to acquire a highly profitable distributor for a prestigious luxury yacht manufacturer, boasting prime locations including a London HQ and four Mediterranean offices. With over 30 years of establishment, this business enjoys a...
This UK-based furniture manufacturer and associated import business presents a unique opportunity to acquire an established enterprise with decades of experience in supplying major retailers with curated collections and bespoke pieces.
A spacious restaurant with a live music licence is available, prominently located in a bustling area of Surrey, making it an attractive opportunity for those seeking a vibrant hospitality venture.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.