BusinessBusiness Recovery15 major retailers could go bust after Xmas

15 major retailers could go bust after Xmas

Woolies and MFI not the end of the bloodshed

As many as 15 major high street retailers could collapse in the near future,
Begbies Traynor’s Nick Hood has warned.

Hood said that mounting finanical pressures on the businesses have seen
earlier discounting, which in turn will hit them at their most profitable time.

The problem facing the management of retail chains is whether they can find
funding to restock in January, pay their VAT bills and survive through until
Christmas starts again next October,’ Hood told the
BBC.

After Christmas they have less stock and more cash, which increases makes
them more attractive for creditors to force them into administration if they
believe the long-term future of the retailer is not viable.
MFI has already been shut by administrators, while Woolworths will close in
January.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor