Global credit insurer Atradius has cautioned that as stores enter what could be the toughest Christmas in 20 years, a number could face hardship in the new year, and unless suppliers take precautions they too could be affected.
The group has advised suppliers to implement tight credit control procedures and keep up to date on the stability of their customers.
Atradius regional director Will Clark said: 'Suppliers must also take action to protect themselves from bad debt by keeping in touch with their customers, ensuring prompt payment and withdrawing credit if they are concerned.'
Several retailers have collapsed over the past year or so, including Allders, Courts and Furnitureland.
Atradius said that a shift away from traditional high street shopping patterns is also taking its toll on stores this year. As more people buy online, often at much lower prices, internet retailers such as Amazon now offer a wide selection of goods online cheaper than the high street, with added convenience. If you have any comment to make on this story, click here.
No comments yet