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Client Portal
8 January 2015
Category News & General

It can be difficult to get back into the swing of things come January, and historical data proves that retail businesses in particular struggle with the new year blues.

The past 3 years have consistently seen Q1 as the most difficult time for retailers, with the most failures (30% of redundancies and 37% of store closures) being recorded during this period.

So what are the main reasons for this unfortunate trend?

Many retailers will have been given a chance to turnaround their struggling business prior to the Christmas period, and banks aren’t likely to be lenient should this not have been successful.

Q1 is also a tough time on business outgoings, with VAT being due at the end of January, after rent deadlines at the end of December.

2014 has been a big year for discounting – with Black Friday being one of the main culprit – another reason for some businesses now seeing detrimental effects.

Read more here:

http://www.cityam.com/206514/first-quarter-worst-time-year-retail-administrations
http://theloadstar.co.uk/first-quarter-worst-time-year-retail-administrations/

If you are worried about your business or just want a (free) no obligation chat, contact Clarke Bell on 0161 907 4044 or [email protected] today. Our Licensed Insolvency Practitioners will provide you with the best professional advice for your situation.

For your free expert advice 0161 907 404

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