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Retail insolvencies start the year

With both Greeting Card Group and Music Zone going into administration this week (reported in Financial Director), are we seeing a retail-led continuation of the last quarter's surge in UK corporate insolvency rates? It's hardly surprising to see retail administrations at this time of year - over-leveraged and under-performing retailers have minimum borrowings after the Christmas sales peak and secured creditors will naturally choose that point to stop the losses. Retail has been a risky sector for some while, and although some brands are reporting a strong Christmas season, the continuing consumer debt problem (

 

 

Date: 5th January, 2007
Author: Chris Laughton

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