Retail sector is strong in run up to Christmas

Solicitor Gemma Nolan

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A REPORT has revealed that shops in the south east are in a healthy position as the Christmas shopping season approaches.

It is good news for the retail industry as restructing and insolvency trade body R3 released its study advising retail stands out as one of the most robust sectors in the region.

The news follows a smaller month on month rise in the percentage of businesses at a higher than normal risk of insolvency.

Garry Lee, vice-chairman of R3’s southern committee, said: ‘Retail sales are often seen as the benchmark for the health of the wider economy so it’s encouraging that this news, teamed with the ONS’s most recent figures showing a one per cent growth in retail sales in August, is looking positive for the sector.’

Mr Lee predicted that, despite the increase in online shopping, outlets will still see their fair share of shoppers this Christmas.

He added: ‘Despite online shopping proving a popular choice in recent years, many people will still continue their tradition of going out to the shops to choose gifts to avoid any possible delivery issues.’