"Debenhams is Britain’s biggest department store chain, 240 years old and a household name, but like many in the retail sector and on the high-street, it has been showing signs of a struggle in the past few years. We have seen the chain fall under the control of lenders and administrators have been appointed to handle the successful sale of the business. Of course, this will cause ripples in the retail sector and have repercussions for suppliers.
During times of economic uncertainty on the high-street, we often see a peak in our sales at Creditsafe with people accessing business reports and that’s because many of our products and tools allow our customers to look at businesses of any size across the world. Our customers use our business intelligence data to decide what level of trade they are going to do with their customers.
We hold data on over 320 million businesses Worldwide. In the past few years we have seen retailers that are well established such as Maplin, House of Fraser, Blockbuster and now Debenhams run into trouble. 2019 could also be a tough year for independent retailers, there are high costs around running retail stores, and continuing weak demand. This, in turn, will have an inevitable knock-on effect for those who own commercial retail property.
Various factors have made consumers more anxious about spending and the high-street will feel the brunt. Businesses no matter how big or small need to make sure they are doing their due diligence when it comes to deciding who they will trade with."
Creditsafe Group CEO