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Brexit 'is hurting thousands of small retailers"


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Old 22-12-2016, 10:21
TheEngineer
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Wait until the price rises start to hit properly next year.

This is going to be brutal.

http://www.theweek.co.uk/brexit/6371...mall-retailers

The report by insolvency firm Begbies Traynor said 21,802 companies were now having financial problems, with the vast majority, around 21,150, being described as "small and medium sized".

"Significant distress" was diagnosed for any firm subject to a county court judgement – "a sign that they are struggling to pay their bills" – or if credit-scoring systems noted a marked deterioration in working capital or retained profits.

That the number of firms in this position has increased is surprising in one regard as retail sales are surging.

Figures from the Confederation of British Industry this week showed 35 per cent of retailers reported rising sales in late November and early December compared to last year, the best figures for more than a year, while last week, the official government statistics watchdog reported consumer spending rose six per cent in November.

But Begbies said the high street was seeing a bout of deep discounting, while the slump in the pound is increasing the price of imports and squeezing already-tight margins.

Independent retailers face the most significant challenges because they "lack the marketing budgets" of their larger rivals and are "less likely to have used currency hedging to soften the blow of weaker sterling", says the Times.
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Old 22-12-2016, 10:31
MARTYM8
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There are around 1.8 million business premises just in England and apparently this survey finds perhaps 650 more businesses across the entire UK are in financially difficulty than they were before 23 June.

It's not really statistically significant is it - and we are of course still in the EU. And of businesses never went bust before 23 June did they - ever?

Another non story in the pro remain The Week which when you analyse it doesn't really amount to much but another anti Brexit whinge and a free ad for the insolvency firm that made up these numbers. Did this insolvency firm just set up business on 24 June as preismably they had no work at all before? Thousands of firms are facing close to 50 per cent rises in business rates next year and most rising rents - maybe that might explain why some are in difficulty as their costs are going up massively.

It's foggy today in London - must be down to Brexit!

Do cheer up - it's Christmas!
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Old 22-12-2016, 10:39
Doctor_Wibble
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From linked articles:
Retail sales surge in run-up to Christmas
Dec 21, 2016
But CBI warns of a slowdown in the new year amid further Brexit uncertainty and inflation rises
Which seems a sensible good news, bad news thing, but isn't that the normal pattern for seasonal spending? Especially since trends have been shifting for some years now as regards timing of sales, partly due to being able to get even more stuff on the internet, and partly because of that Accursed Black Friday thing?

And interestingly the surge in sales in spite of consumer confidence being hit by forecasts telling them their presents this year should be tins of pork'n'beans* and not teddy bears and silly jumpers. And look at our latest deals on potassium iodide, not saying anything, just happened to have a lot in stock...




* with bits of tinsel stuck on it, it is christmas after all
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Old 22-12-2016, 10:40
CSJB
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What a complete non story.

About a quarter of a million businesses go bust every single year.

Page 8 if anybody's interested :
http://researchbriefings.files.parli...52/SN06152.pdf
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Old 22-12-2016, 10:50
jmclaugh
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Another day another Brexit tale of woe thread from the OP, it is bordering on an addiction.
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Old 22-12-2016, 11:09
trevgo
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Thankyou to TheEngineer for charting the daily disaster that is Brexit. It needs to be done.
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Old 22-12-2016, 11:11
Maxatoria
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Lots of businesses go bump every year, either they thought that somehow the magical money fairy would turn up and just gift them enough profit or they were just unprepared for the work load that can come along running your own business. Those are the main two I know of that cause failures in smaller businesses.

Banks also are not a generous with credit and are taking tighter views of businesses as they don't want to expose themselves to too much risk.
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Old 22-12-2016, 11:39
tiggertiny
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Thankyou to TheEngineer for charting the daily disaster that is Brexit. It needs to be done.
As nothing you or he/she says, does or indeed writes on here will make any difference to anything why do you bother?

Have you considered taking up a hobby?
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Old 22-12-2016, 11:55
John146
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I wonder what 'disaster' TheEngineer will find to post tomorrow, whatever it will be the fault of Brexit, soon be March
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Old 22-12-2016, 12:01
Doctor_Wibble
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Have you considered taking up a hobby?
What did you think this was? Even if it does look more like a sort of nervous tic.
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Old 22-12-2016, 12:36
Kaz159
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I wonder what 'disaster' TheEngineer will find to post tomorrow, whatever it will be the fault of Brexit, soon be March
I'm looking forward to his Christmas Day post.
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Old 22-12-2016, 12:50
MARTYM8
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I'm looking forward to his Christmas Day post.
Haven't you heard?

Christmas Day is cancelled this year due to Brexit!
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Old 22-12-2016, 12:56
Inkblot
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Haven't you heard?

Christmas Day is cancelled this year due to Brexit!
Santa told "get back to Lapland" by irate Brexiters. Elves ordered to opt out of European working time directive if they want to work in England.
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Old 22-12-2016, 13:05
BrokenArrow
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Thankyou to TheEngineer for charting the daily disaster that is Brexit. It needs to be done.
Well Sterling is at the same level against virtually every other currency, other than the Dollar, as it was in 2012.

Thats way before the referendum.

The Dollar is high against all currencies because they have higher interest rates.

So either the OP and his source is lying or they are hopelessly misinformed !

Which is it?
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Old 22-12-2016, 13:06
allaorta
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I wonder what 'disaster' TheEngineer will find to post tomorrow, whatever it will be the fault of Brexit, soon be March
He'll need to save a story for Sunday, no Guardian or Independent or The Week, etc.. Mind you, there's still the BBC and if they don't come up with something, we'll get a thread, "BBC holding back Brexit news".
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Old 22-12-2016, 13:09
Amaretto2
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Can we please be informed of any disruption to these pearl clutching "We're Doomed" threads over the holiday period? Hoping for minimal disruption and at least 1 of them per day.
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Old 22-12-2016, 14:02
HopesandDreams
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I wonder what 'disaster' TheEngineer will find to post tomorrow, whatever it will be the fault of Brexit, soon be March
Santa's sleigh failed its MOT, so Christmas cancelled....of course all down to Brexit
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Old 22-12-2016, 14:21
Mark39London
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Santa's sleigh failed its MOT, so Christmas cancelled....of course all down to Brexit
I thought that was down to Elf and Safety
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Old 22-12-2016, 14:30
crystallad
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On a different note
UK car production speeds to a 17-yr high https://www.rt.com/business/371275-u...n-hit-records/
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Old 22-12-2016, 14:34
Doctor_Wibble
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On a different note
UK car production speeds to a 17-yr high https://www.rt.com/business/371275-u...n-hit-records/
And therefore destroying the environment, therefore can be blamed on Brexit.
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Old 22-12-2016, 14:35
Thor_Noggsson
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Santa told "get back to Lapland" by irate Brexiters. Elves ordered to opt out of European working time directive if they want to work in England.
And St Nick was a Turk so off you go back home sunshine.
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Old 22-12-2016, 15:18
alan29
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Its OK. No need to panic.
Tell you what.
Instead of giving the NHS that 350 million a week, why not divide it up among the population?
That will give those shop keepers an extra fiver a week.
That should do it.
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Old 22-12-2016, 15:20
heiker
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TheEngineer will probably choke on this "Good News" Brexit Story.......hope somebody is close at hand to perform the Heimlich Maneuver:

"The UK has shot up the annual list of countries where it is best to do business. Britain is now fifth on the Forbes magazine “Best for Business” list – rising from tenth place last December"
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Old 22-12-2016, 15:27
John146
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TheEngineer will probably choke on this "Good News" Brexit Story.......hope somebody is close at hand to perform the Heimlich Maneuver:

"The UK has shot up the annual list of countries where it is best to do business. Britain is now fifth on the Forbes magazine “Best for Business” list – rising from tenth place last December"
Now you are just trying to upset some of the Remainers now, but, no doubt one of them will pop along to tell us Brexit isn't really going to happen, we will be staying in the EU..

Soon be March
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Old 22-12-2016, 15:35
CSJB
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TheEngineer will probably choke on this "Good News" Brexit Story.......hope somebody is close at hand to perform the Heimlich Maneuver:

"The UK has shot up the annual list of countries where it is best to do business. Britain is now fifth on the Forbes magazine “Best for Business” list – rising from tenth place last December"
That will be because we haven't left yet
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