The chief executive of the British Retail Consortium, which manages the retail sector for the government, is in crisis.
A new review of the business’s financial health was due to be completed last week, but is now set to be delayed until the end of this month, according to sources.
In a letter to staff and customers this week, chairman Mark Treloar said he expected to find it “very difficult to meet our targets in the coming months”.
He said he had been “in communication with management and the board” but was “not sure what they will decide”.
He added that he would “not be making any further announcements until we are fully clear”.
The government has already been forced to slash the number of stores in England from 14 to nine.
And with no firm plans in place for the retailing industry to adapt to the Brexit fallout, Mr Trelosar said the review would be a “significant test” for the sector.
The chief operating officer of the BRC said he believed the review was “inevitable” and said he was “absolutely confident” that it would find the BNC “fit for purpose”.
But he warned that “the impact of Brexit will be felt for years to come”.
“It is essential we find the right balance between protecting our reputation and providing the best possible service for customers,” he said.
They want the best deal in the industry.” “
The feedback we’ve been receiving from our customers is encouraging.
They want the best deal in the industry.”
The BRC has long been viewed as one of the most successful and powerful retailers in the country.
It has more than 1,400 stores across the UK, from its flagship store in London, which has a turnover of more than £1bn, to smaller stores in the Midlands and South-East.
In October, it launched a new “specialised” section in the BPC, where staff can buy and sell items, and a new online store for the consumer.
It also sells clothing, accessories and books, as well as sports, leisure and entertainment goods.
The BPC was also awarded the “Top Customer Award” by The Times in 2016.
The company has been the subject of an investigation by the Serious Fraud Office (SFO) over alleged fraudulent activity by staff and managers.
The SFO launched a criminal investigation into the BLC in February.
The inquiry, which was launched in the wake of a number of high-profile cases of fraud and money laundering, also led to the resignation of one of its senior executives, Paul Thompson, who was appointed as its chief executive.
However, the BSC has said it is confident of its future, and has vowed to take the matter to court.
It is also appealing the SFO’s decision to remove it from the market.
The investigation also led the Government to introduce the Consumer Price Index (CPI), which measures inflation and consumer spending, in December 2018.
The CPI, which uses data from the Office for National Statistics, shows that inflation has fallen sharply since the end to March 2019, but remains well above the rate seen in the UK as a whole.