ICSM News Update: we list which UK retailers have crashed this year

ICSM News Update: we list which UK retailers have crashed this year

Debenhams, Victoria’s Secret, Jessops, Paperchase and Arcadia have all gone to the wall last year but sadly more retailers have called it a day this year. And that means more suppliers have been left high and dry when it comes to paying bills.

When a retailer gets into trouble they can leave a trail of debts as printers, sign makers, designers, landlords, wholesalers and freelancers can be left unpaid.

Ian Carrotte of ICSM said ensuring a customer sticks to your credit terms is vital and resist the phrase used by famous names that ‘we are too big to fail.’ Remember Carillion or indeed Debenhams.  

Some of the big names to have gone to the wall this year include Missguided – the e-fashion retailer who left a trail of debts and most of their staff out of wok after the Frasers bought the brand. McColls convenience stores went to the wall although Morrisons stepped in to save most of the branches. The Sofa Workshop ceased trading in March with the 15 branches shut and 77 staff redundant. Other casualties include Click it Local – an online business run by local authorities – luxury shoe firm Steptronic Footwear of Rushden, YM Lewin the shirtmaker established in Victorian England and retailer T M Lewin and the butchers chain J C Rook and Sons hit the rocks this year.

In Scotland fish retailer Dawnfresh closed and Irish-based Licence-holder AEO EU, operating two American Eagle stores in the Irish Republic and about to open two American Eagle stores in London, were wound up. Shabby Store furniture went into administration in February as did Studio Retail of Accrington as did Big Home Shop and Physioroom.

About ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.

To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website www.icsmcredit.com or send an email to Ian.carrotte@icsmcredit.com

For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk

Tel 0844 854 1850 ___ Fax 01454 327 355
Privacy Policy   © ICSM All Rights Reserved