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Number of UK retailers ‘in distress’ rises

The number of UK retailers in financial distress this Christmas has jumped by 22% year on year, a new report has found.

Almost 45,000 UK retailers, nearly 8,000 more than in 2016, are at risk, according to a survey by insolvency advisory firm Begbies Traynor.

Poor footfall, weak consumer confidence and a dip in sales following the Black Friday discounting event in November are to blame, The Guardian reported.

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