High profile retailers getting into difficulties
With two more high profile High Street brands in administration so far this year – Toys ‘R’ Us and Maplin – it’s clear that the retail sector is currently taking heavy hits from all points of the economic compass. From climbing business rates and labour overheads to a legacy of shop over-capacity and pressure on disposable consumer incomes, major insolvencies like these can have a catastrophic knock-on effect down the supply chain.
Late payments, over-extended credit lines and unsecured receivables, it’s the retail supplier’s worst nightmare. But there is a solution that can help protect both your balance sheet and your business in a worst-case scenario. It’s called trade credit insurance and in the teeth of economic uncertainty, it could just be the smartest commercial decision you’ll make in 2018.
In this bulletin, Gallagher explores the pressures in retail and how you can use trade credit insurance to draw the sting should a customer, supplier or partner go under.
Download the High profile retailers getting into difficulties.pdf