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Monday, 11 October 2010

Fewer retailers in administration

Another crop of statistics that show two different stories.

PWC, in their survey of the retail sector, found that just 360 firms failed in the third quarter, a drop of 11 per cent from the second quarter and a 26 per cent reduction on the same quarter last year. PWC mused that this was because most of the weak retailers have already become insolvent. It remains to be seen if these will be the case when public sector cuts come into force.

However, this recession has been different and firms are more flexible than before. This hasn't stopped them from being gloomy though! Deloitte's survey of chief financial officers has more than a third expecting a double dip recession as confidence crashes to its lowest level in 18 months.

Forget all the polls and surveys and concentrate on ensuring your business is CASH positive. Thousands of businesses are making losses it seems for years but if you run out of cash then that is it!

KSA Group can advise on how to stay cash positive and ensure that your business survives the recession. Please see our guide to cost cutting

4 comments :

  1. Time for a rethink by landlords . Rental costs must be reviewd down , not just up .

    ReplyDelete
  2. There is an issue with bank lendig too .

    ReplyDelete
  3. Why dont lanlords simply take a turnover rent . We all share the good and bad times .

    ReplyDelete
  4. I too think there must be a reality check from lanlords . Why let retail space become empty when a little understanding and negotiation may keep the space full.

    ReplyDelete

Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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