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11/01/2010
Retailers 'face tough 2010' |
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This year will be a very difficult one for retailers, the British Retail Consortium (BRC) has predicted.
BRC director general Stephen Robertson told the Sunday Telegraph: "There will be increasing consumer uncertainty and we will see consumer confidence dropping. There will be tough sales and perhaps no growth."
He noted that the VAT rate has risen, that national insurance contributions will increase in April and that unemployment has increased, all factors he suggested will hit sales figures.
Such a situation could lead to an increase in the number of retailers going out of business.
Those who may be facing this fate could benefit from speaking to an insolvency lawyer at an early stage.
Last month, chief executive of national enterprise network NFEA George Derbyshire said recovery in the commercial sector as a whole could be held back by political uncertainty as a general election approaches.
He commented that he was worried there is a lot of "pre-election caution around".
Written by Laurence Smith
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