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Retail Insolvencies climb 19% in the UK

UK debt collections

New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23. High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch.

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Retail Insolvencies continue to rise in the UK

UK debt collections

Retail Insolvencies are expected to continue to rise according to latest industry expert findings. Less than two months into 2024 and six UK retailers have already gone bust, with a further two warning they may fall into trouble, as experts warn the market will “continue to see an uptick in retail insolvencies”.

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Retail suppliers late payment worsening

UK debt collections

Small businesses supplying the automotive, retail industry and manufacturing sectors face the longest-ever wait for payment from some of the UK’s largest companies, according to Good Business Pays. Waterstones payments increased from 73 to 75 days. Hobbs payments increased from 53 to 66 days. Virgin Mobile also going from 38 to 28 days.

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4 Things Retailers Can Do to Prepare for Holiday Shoppers

Nerd Wallet

Even though we’re only at the tail end of summer, retailers have already spent months gearing up for the holiday shopping season. And due to a tornado of factors — including inflation, supply-chain woes and consumer spending habits that changed during COVID-19 lockdowns — retailers are looking ahead to a shopping season that promises to.

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What Is Retail Accounting? A Guide to the Retail Method of Accounting

Nerd Wallet

Retail businesses have unique challenges, not the least of which is business accounting — especially for inventory. Discover the ins and outs of retail accounting to help you stay on top of your bottom line. MORE: NerdWallet’s best small-business apps Understanding retail accounting The term “retail accounting” is a bit of a misnomer.

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Lightspeed Retail POS Review 2021: Features, Pricing and Alternatives

Nerd Wallet

Lightspeed Retail is a point-of-sale system for brick-and-mortar retailers, providing both the software and hardware a business owner needs to run transactions. Lightspeed Retail is a good match for medium and large-sized businesses —. Lightspeed Retail is a good match for medium and large-sized businesses —.

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Thinking of Getting into Retail Investing? Here Are 7 Things to Consider

Credit Corp

In the wake of the Covid-19 pandemic, the world of retail investing has experienced a growing number of new arrivals looking to place their money in the stocks and shares that they believe in. One of the most significant issues that retail investors can face stems from allowing their emotions to control their decisions.

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