TMHCC – Trade Credit: Sector Update – Retail
Last year proved itself to be one of the most challenging in modern history for the retail and consumer sectors; it was a perfect storm: a global pandemic that forced closures of "non-essential shops"—a new addition to the lexicon—along with restrictions on movement resulting in reduced footfall, supply chain challenges and a heavily impacted Christmas trading period.
The retail sector is going through an unprecedented process of structural change, and we witnessed a number of high-profile restructures and administrations in 2020. However, despite all these challenges, there are signs of optimism for the second half of 2021 onwards as the sector moves away from survival and into recovery mode.
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