Christmas is the final big hurrah of the year for consumers but for an unprecedented number of retailers the festive season this year will not be a celebration. It will be their last quarter before restructuring forces major change upon them and their survival is put in doubt.
As well as the tough trading environment the big elephant in the room is that 2012 will see one of the largest re-financing periods ever for the retail sector. However, for many bricks and mortar retailers facing structural and operational pressures, there is likely to be little appetite from banks to offer them new facilities and so few of these re-financings will go through. At best, new facilties will be on very punitive terms.