Sunday, December 21, 2008

BBC NEWS | Business | Ten chains 'face closure' in 2009

More than 10 national or regional retail chains risk going bust next month, insolvency experts are warning.The warning comes from Nick Hood, a partner at Begbies Traynor."Not a lot of them are profitable because of the discounting at a time when they would normally generate all their profits for the year," he said.It comes as research from accountants PricewaterhouseCoopers suggests that 82% of retailers are discounting their merchandise this weekend.The figures are compiled from London's Oxford Street, where many of the country's top retailers have stores.One month ago, only 52% of them were cutting prices.
BBC NEWS | Business | Ten chains 'face closure' in 2009
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