Rent issue for retailers

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More retailers could be facing the crunch as rents become due this month, according to Sheffield-based insolvency practitioner Gareth Self.

Mr Self, a member of the Yorkshire committee of insolvency professionals body R3, who works for corporate restructuring specialist the P&A Group, said: “Trading conditions have clearly been extremely tough for many retailers since 2008, and after hanging on through the worst of the recession, the heavy snow that we all endured through the winter could well turn out to be the straw that breaks the camel’s back.

“A lot of firms would have drawn together the last of their resources to make it past the March payment date, but with little obvious improvement in sales over the last three months, we could be about to see another swathe of retailers reaching the end of the road.”