Plimsoll's latest analysis of the UK Retail sector echoes the sentiment of accountants BDO recent assessment that thousands of UK shops will close by 2015. Such is the dire state of many UK Retailers, we would even contest that it needs to happen sooner.
Our research shows that 1 in 4 major British Retailers are in already in a precarious financial state and with demand predicted to fall as consumers make drastic cuts in spending, things can only get worse.
Our latest research shows:
- A third of Retailers are already making a loss
- 1 in 4 are are already in dire financial trouble
- Half are struggling to improve their position
- Consolidation is long overdue with most exposed to takeover
However, for those Retailers that come through the other side, the difficulties of the next few years could actually turn out to be a good thing. The specialist niches that most retailers serve means that the failure of a close competitor often means they have something a monopoly on the High Street.
Click here for more information on Plimsoll's latest assessment of UK Retailers