UK banks could stop lending to the high street if there are further retail failures, according to unnamed banking sources. UK banks took heavy losses on £1.6bn ($2.2bn) of syndicated loans when Carillion entered liquidation in January. Since then, retailers including Mothercare, Carpetright, Prezzo and House of Fraser have announced trading difficulties. The problems experienced by high street retailers have been attributed to a consumer shift to online shopping, high rents and over expansion.
UK banks could stop lending to the high street if there are further retail failures, according to unnamed banking sources. UK banks took heavy losses on £1.6bn ($2.2bn) of syndicated loans when Carillion entered liquidation in January. Since then, retailers including Mothercare, Prezzo, Carpetright and House of Fraser have announced trading difficulties. The problems experienced by high street retailers have been attributed to a consumer shift to online shopping, high rents and over expansion.