UK high street faces post-Christmas ‘flurry of failure’

Th Office for National Statistics says department stores and household goods shops reported increased sales in November. Photograph: Marcin Nowak/Alamy

The high street could face a “flurry of business failures” in the new year, as a lacklustre Christmas sales period is leaving retailers low on the funds needed to cope when households tighten their belts after the festive season.

“We can expect more consolidation and high street casualties as we head into the new year. It will be yet another tough year for retail and a case of survival of the fittest,” said Paul Martin, UK head of retail at KPMG.