Retailers facing a tough Xmas
MANY struggling British retailers will face a bleaker Christmas than they did last year, when 15 major chains failed, according to insolvency specialist Begbies Traynor.
Christmas is a crucial trading period for retailers but soaring unemployment and low consumer confidence is expected to result in more firms facing financial difficulty.
“Christmas 2009 could see just as many retail casualties as last year,” said Nick Hood of Begbies Traynor.
Last week outdoor retailer Blacks Leisure announced plans to close 89 loss-making stores and axe jobs.