The UK may face a “tsunami” of store closures this autumn, with house owners confronted with repaying £1.7bn in debt, Invoice Grimsey, the previous boss of Wickes and Iceland, says. His newest report into the way forward for Excessive Streets says small outlets survived the pandemic by taking over government-backed loans that may not usually have been granted, based mostly on their funds. The evaluation requires the federal government to jot down off some debt. The Treasury says it is already offering additional assist and suppleness in mortgage reimbursement.
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