Rolling coverage of the latest economic and financial news
The last year has been very tough for the UK retail sector, with weak consumer spending, rising costs and high interest rates pushing many retailers to the wall.
The number of retailers falling into insolvency jumped by 19% in the last year, new data from audit, tax and advisory firm Mazars shows, to 2,195.
“We are unlikely to see the retail sector trading comfortably until interest rates start to fall.
Despite inflationary pressures easing, high interest rates and low consumer spending continue to persist.”
Continue reading…Rolling coverage of the latest economic and financial newsThe last year has been very tough for the UK retail sector, with weak consumer spending, rising costs and high interest rates pushing many retailers to the wall.The number of retailers falling into insolvency jumped by 19% in the last year, new data from audit, tax and advisory firm Mazars shows, to 2,195.“We are unlikely to see the retail sector trading comfortably until interest rates start to fall.Despite inflationary pressures easing, high interest rates and low consumer spending continue to persist.” Continue reading…
