In the News
Retail and the pandemic - should debts of smaller shopkeepers be written off?

19th July 2021
The UK's small shopkeepers collectively are struggling under a £1.7 billion mountain of debt according to a new report.
Many resorted to taking out emergency government-backed loans during the first wave of the pandemic and they are now vulnerable to uncertain revenue streams as lockdown restrictions are eased along with the threat of rising interest costs and debts coming up for repayment.
The Grimsey Report reviewed the published accounts of every UK independent business across the retail, services and hospitality sectors with total assets of £250,000 or less.
Report on the high street commissioned by former Iceland boss Bill Grimsey finds debt amongst 144,000 independent high street SMEs (small and medium sized enterprises) has risen from £490m to almost £2.4bn since start of pandemic.
This debt could lead to a significant number of business failures.
Is there a case for some form of debt forgiveness for smaller retailers? Grimsey calls on the British government to write off loans, potentially using about £2bn in funds returned to state coffers by large retailers
Opponents would argue that forgiving debt risks creating moral hazard and that debt write-offs would place yet another burden on tax payers.
You can download the latest Grimsey report on the High Street using this link. https://assets.publishing.serv... ;
Bill Grimsey’s second high street report out today. A lot has changed since his last one 5 years ago. https://t.co/UI1QEacea9
— Emma Simpson (@BBCEmmaSimpson) July 4, 2018
📢📢New Grimsey Review report out today! Download your copy here 👇https://t.co/QqOR2bgJlM pic.twitter.com/UkfFK8CXUw
— Bill Grimsey (@BillGrimsey) July 16, 2021
You might also like

Defaults today mean less jam tomorrow
25th July 2013
Overseas Aid and Economic Development
Study Notes
External Debt Relief
Study Notes
Aid & Development - Revision Presentation
Study Presentations
Debt Relief for Poorer Countries - Revision Presentation
Study Presentations

Dunnhumbly - the humble beginnings of a shopping revolution!
24th November 2014

Coca Cola enters the milk market
26th November 2014
Debt
Study Notes