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Retail firms 'in for bumpy ride' in 2012

Date Added: 23/12/2011  

Next year could prove to be a bumpy ride for companies in the retail sector, which may lead to some of them being served with a winding up order.

Roger Southam, chairman of residential property management firm Chainbow, stated this is because there are already a few major brands struggling as a result of the fallout caused by the recession.

But he explained firms in London may not need to take company debt advice, as there seems to be a sort of "bubble" protecting businesses in the capital.

Mr Southam added: "London is a global city, whereas a lot of other towns and cities around the country just don't have the same hold."

Anthony Rushton, co-founder of online video and media content provider Telemetry, recently said the Regional Growth Fund set up by the coalition government is a "brilliant" idea, as it will support firms based outside of London.

But he added he still wants to see the detailed proposals from the government regarding the scheme.

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