16 Jul 2012
More than a quarter of Scottish retail businesses are at risk of failure over the next year, a worrying report has concluded.
Up to 274 businesses could go bust, with more than 1200 also facing some level of failure, the work by insolvency specialists R3 has found.
The Scottish Conservatives are calling on the Scottish Government to scrap two policies which harm the retail industry; the Scotland-only retail tax and the reduction in rates relief for businesses with empty commercial properties.
Scottish Conservative finance spokesman Gavin Brown said:
“These are worrying statistics that paint a weak picture for the economy over the next year.
“We are calling on the Scottish Government to use every single lever it has available to help prioritise the economy.
“It should be taking action rather than just talking about it, and should scrap these new taxes which will only makes things worse for retailers in Scotland.”