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Thursday, 25 December 2014

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120 businesses ‘at risk’ of failing

MORE than 120 retailers in Barrow are considered at risk of failure in the next year, according to new figures.

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TOUGH 29 per cent of retailers in Barrow could be at risk

The statistics have been compiled by insolvency body R3.

Across the north west 3,500 retailers are considered at risk, a total of 30 per cent of all businesses, compared to 29 per cent in Barrow.

Cumbria has a lower expected rate of failure with 24 per cent, or 978, retail businesses.

Jeremy Oddie, regional chairman of R3, said: “The high street is having to re-define itself, and many chains have been shedding stores to create a more workable business model.

“This process could reach a natural conclusion at some point in the year ahead, although we expect a few more major insolvencies in the meantime.”

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