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The global fashion business journal

Oct 1, 20202:32pm

Online crisis: about 65% of UK etailers are in ‘financial distress’

The number of online retailers in the United Kingdom in financial distress has risen over 65% since 2017, to 9,024, according to insolvency firm Begbies Traynor.  

Dec 23, 2019 — 4:44pm
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About 65% of UK etailers in ‘financial distress’

 

 

United Kingdom etailers going though rough times. The number of online retailer in the United Kingdom in financial distress has risen over 65% over the past three years, to 9,024, according to insolvency firm Begbies Traynor.  

 

Etailers in “significant financial distress” has increased by 1% to 26,930 during the three months to December 19, year-on-year. Fashion retailers facing the same situation has increased by 21% over the past three years, to 3,355 companies

 

The year started with uncertainty for businesses with a decision on a Brexit deal and the nature of the UK’s exit from the European Union set to be determined”, stated Julie Palmer, partner at Begbies Traynor insolvency firm. 

  

Begbies Traynor is a corporate rescue and recovery insolvency firm in the United Kingdom. They provide services for over 70 companies from small businesses and professional advisers to large corporations and financial institutions.

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