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15/12/2011

Frances Coulson comments on the retail sales estimates for November

“The year on year increase in consumer spending seems reassuring, but we have to factor in that prices have increased by 3.6% over the same period. The situation is volatile with both value and volumes of retail sales actually decreasing slightly month on month. Recent research by R3 shows that 60% of consumers are worried about their current level of debt while retailers will have their eye on December’s approaching rent Quarter Day. Retailers will need to see a stronger showing for December’s crucial trading period.

“Earlier in the year, R3’s Business Distress Index showed that retail businesses are more likely than any other to be concerned about their debt levels (41%). The research also found that 58% of retailers were experiencing a decrease in profit which was 24% higher than the cross sector average. Bad weather and a post-Christmas shopping slump is sure to have a negative impact on many businesses, particularly smaller ones so it is important not to be complacent. The sooner any troubled business seeks professional advice, the more that can be done.”

Frances Coulson, R3 President

For further information please contact:
Will Black, Communications Manager
T: 020 7566 4215 m: 07917 422 485 e: will.black@r3.org.uk


R3 Press Office

Notes to editors:

  • R3 is the trade body for Insolvency Professionals and represents the UK’s Insolvency Practitioners.

  • R3 comments on a wide variety of personal and corporate insolvency issues. Contact the press office, or see www.r3.org.uk for further information.

  • R3 promotes best practice for professionals working with financially troubled individuals and businesses; all R3 members are regulated by recognised professional bodies
     
  • R3 stands for 'Rescue, Recovery, and Renewal' and is also known as the Association of Business Recovery Professionals.