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Many firms are having to make effective use of credit insurance companies and credit information services in order to help protect themselves from the economic problems affecting the UK at present. One of the sectors that is being hit particularly hard is retail and an expert has suggested that more trouble is on its way for the industry. According to head of retail consultancy CBRE Jonathan De Mello, between 30,000 and 40,000 retail jobs could be lost over the next 18 months as difficult circumstances remain. He suggested that trading conditions for such firms are especially tricky, the Guardian reports. He added: "It might not be an official recession, but we are in a retail recession. Retailers are experiencing falling sales and profits." Meanwhile, the publication went on to point out that KPMG, which is working on a rescue package for lingerie firm La Senza, recently announced that it was to close more than 80 of its stores. Also, a "wave of store closures" at Blacks and Past Times is expected, the news source added. Meanwhile, another of those to comment on the problems facing stores was Jamie Constable, chief executive of restructuring firm RCapital. He remarked: "High street retailers are facing rent rises and wage inflation which is coupled with a drop in sales ... for many retailers, the numbers simply don't add up." He went on to note that the additional burden of VAT bills in the first quarter of 2012 could be the "final straw" for some companies. To help protect themselves from the volatility in the sector, companies that deal with retail organisations may benefit from making the most of the services provided by credit insurance companies. By utilising credit information provisions and so on, bosses may be able to make their lives easier and stand a better chance of weathering the storm. The Article is written by www.eulerhermes.co.uk/en/credit-insurance/credit-insurance.html providing Credit Insurance Companies and Credit Management Solutions. Visit http://www.eulerhermes.co.uk/en/credit-insurance/credit-insurance.html for more information on www.eulerhermes.co.uk/en/credit-insurance/credit-insurance.html Products and Services___________________________Copyright information This article is free for reproduction but must be reproduced in its entirety, including live links and this copyright statement must be included. Visit www.eulerhermes.co.uk/en/credit-insurance/credit-insurance.html for more services!
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