Over 28,000 UK retailers struggle as financial pressures mount, with well-known brands facing administration.

Over 28,000 UK retailers are facing severe financial difficulties due to rising costs and weak consumer demand. The number of critically distressed retailers increased by 25% in the last quarter of 2022, reaching 2,124. Well-known brands like Homebase, Ted Baker, and The Body Shop have entered administration, affecting nearly 18,000 jobs. Increased energy bills, interest rates, and a shift to online shopping have exacerbated the downturn. Despite a slight year-on-year decline, the retail sector remains under significant pressure.

December 27, 2024
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