More than 35,000 retailers in financial distress as Omicron pressure mounts

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy More than 35,000 struggling retailers are now in significant financial distress as they face a harsh winter amid the spread of the Omicron variant of coronavirus, according to new figures. Begbies Traynor said its latest data for the final quarter of 2021 shows that 35,775 retailers, including both online and high street businesses, are considered in “significant financial distress”. “And while many sectors were hit hard, especially retail, they began to slowly recover in 2021 when restrictions were lifted, and retailers and non-essential businesses were able to reopen.” Over the past quarter, across all sectors there were an extra 22,000 businesses facing financial difficulties, at 585,516, compared with the previous quarter. The period saw 20,762 bars and restaurants in financial distress, while there were also 7,371 hotels and accommodation providers facing tough conditions.