The survival of thousands of stores is in doubt as a combination of heavy discounting, weak sales and the drop in the value of the pound push retailers to breaking point, according to a report by Begbies Traynor.
It found that 21,802 retailers were in significant financial distress, a rise of 6% on the year. Some 97% were small- and medium-sized companies.
Begbies noted that quarterly rent bills became due early next year. Many smaller retailers in particular may not survive much beyond the January sales, Julie Palmer, a partner at the firm, said.
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