Clothes retailers face £15bn of write-offs as stock lies unsold
Fashion retailers are facing £15 billion in stock write-offs, according to industry bosses and analysts.
Shops not classed as “essential retail” have been closed since March 16, around the time that most retailers had taken delivery of their latest spring and summer collections. Sales are thought to have plunged by 70%, according to analysis by Retail Economics and Alvarez & Marsal.
Read the full article on The Times.