Retailers say reduction undermines ability to trade

Half of large retailers and over 40% of small and medium-sized (SME) ones say the reduction or withdrawal of trade credit insurance has undermined their ability to trade. The findings are part of the British Retail Consortium's (BRC's) Credit Conditions Survey, which also revealed that a third of SME retailers had experienced a contraction in lending by their bank. Of those, 89% said it had affected their businesses, 75% had cut stocks and 30% had cut employment.