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Living Wage Causing Problems for UK Retailers

Wednesday, October 12, 2016

According to a report by insolvency firm Begbies Traynor, nearly 100,000 businesses have been pushed to financial distress by the introduction of the national living wage. The number of firms struggling financially has increased 23% since the living wage was introduced six months ago with almost a third of struggling firms being retailers. Retailers are trying to find ways to adapt to the new laws by increasing prices and reducing profits and staff benefits.

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