Today is the day which sees many retailers pay their quarterly rent and could see the industry facing more troubles.
Last rent payment day saw Jane Norman, Habitat and TJ Hughes fall into administration and many retailers are still struggling after retail sales fell in August and September.
Figures from the CBI said that September was the worst month for retailers since May 2010, as sales had fallen by 0.2% in August and problems caused by the riots continued to dog the high street.
It is expected that banks will be more lenient on struggling retailers as the busiest shopping period of the year approaches and will be more willing to extend credit until after the festive season.
One in four retailers say that they are suffering cashflow problems, with 8% saying that they expected their business to collapse in the next year. If your business is struggling in the current economic climate, here at Real Business Recovery we could help you and your business to stay solvent despite the challenging times.
We have successfully helped a number of businesses with advice on everything from managing cashflow through confidential invoice discounting to implementing a company voluntary agreement to pay back creditors to closing a company and liquidation. We aim to provide businesses with accurate and realistic advice to make sure that you get the right solution for you, your employees and your creditors.