May 10, 2020 / 5:34 PM / 16 days ago

UK retailers says bailout funds not sufficient to stop "imminent collapse" - FT

May 10 (Reuters) - British retailers have warned the government that its business bailout package of reliefs, grants and loans will not be sufficient to stop the "imminent collapse of many businesses", the Financial Times reported on Sunday.

British Retail Consortium wrote a letter to finance minister Rishi Sunak and small business minister Paul Scully and said the crisis “facing parts of the retail sector . . . must be addressed urgently ahead of the June quarter day”, the newspaper said.

The letter was also signed by the British Property Federation and Revo, the newspaper added. (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Alex Richardson)

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