With nearly a third of the UK’s largest retail firms struggling for funding, retail recruiters have urged the government to help retailers.

Research from strategy consultants Roland Berger shows that 31% of the UK’s biggest retailers have been stripped of vital overdraft facilities.

Kate McCarthy, managing director at McCarthy Recruitment, told Recruiter that retail businesses are finding it difficult to trade as they cannot access appropriate funds.

“It affects everything - training and development, the ability to take on new employees, expanding portfolios for businesses that are trading well. It affects buying stock and being able to get the right stock in. It brings the retail trade to a halt. It can seriously affect the way business trade.

“The government needs to do everything it can to make the banks lend the money to the right businesses.”

Candace Rose, managing director at Tortrix Recruitment, adds: “The impact it is having is for everyone to see. There has not been many weeks where there has not been a company that has run into trouble or gone into administration.

“It is different because it is retail. Some stores are very busy but they are suffering because of these limitations. It is limiting their growth plans. Those growth plans they have in place are being affected.”