Retailers downgrade outlook, as inflation and high inventories bite
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Life continues to be tough for the UK’s high street retailers, and is expected to be tougher than ever in the first three months of 2015, with most bankruptcies taking place in the quarter after New Year. “Retailers who may have been struggling prior to the festive period will most likely have been given a period of grace to turn performance around. Banks and suppliers will be watching like hawks, poised to pull the plug if and when they sense that hasn’t happened,” say insolvency experts, with yesterday’s announcement that fashion chain Bank is entering administration the proof of the pudding.
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