One in ten retailers are facing imminent collapse due to challenges brought about by the coronavirus outbreak and resulting lockdown, according to the Opinium-Cebr Business Distress Tracker. About 510,000 businesses are at a high risk of entering insolvency, according to the tracker. Many of the firms polled said it would take 28 weeks to recover, three weeks longer than the previous poll, conducted a fortnight ago. On a more positive note, 41% said their outlook for the next 12 months is more optimistic than when previously polled, suggesting they are over the worst.
SOURCE: NACFB – The Times Daily Mail