Advice for owners of Polish shops

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Updated: 12th January 2021

Advice for Polish shops facing financial distress

Jeśli jesteś właścicielem Polskiego Sklepu na terenie Wielkiej Brytanii i doświadczasz trudności finansowych, takich jak zadłużenie lub nacisk ze strony HMRC, nasz zespół ekspertów jest w stanie udzielić ci bezpłatnej porady.

Many Polish shop owners in the UK are experiencing financial distress in the face of Brexit uncertainty, with insolvency being a real threat for many. Unique problems and challenges need to be overcome, as well as dealing with issues within the retail sector in general, so how can you prevent further financial decline and improve cash flow?

Challenges and issues for Polish shops in the UK

Two key reasons why Polish shops are experiencing poor cash flow are Brexit and the general retail downturn:

Brexit and financial distress for Polish shops

The vote to leave the European Union has created huge uncertainty for Polish retailers in the UK. On an operational level, the future could possibly involve supply chains disrupted by border checks and longer lead-times for imported goods if an adverse trade deal is agreed. The potential for import tariffs to be placed on Polish food is also a crucial issue.

General retail downturn

High rents on commercial properties have been a significant problem for the retail sector in recent times, causing insolvency for some of our largest retailers – unfortunately, the situation is no different for smaller shops.

Other issues may also be affecting trade - increased business rates and minimum wage levels are part of the problem - but considerable economic growth in Poland may also be indirectly encouraging people to return home.

The fact that large numbers of Polish people are returning home or choosing not to come to the UK because of Brexit has had an adverse effect on Polish shops here, considerably reducing the customer base and threatening businesses in supply chains.

So what can you do to improve the situation?

Free insolvency advice for Polish shop owners

If you’re experiencing financial distress, it’s important to seek professional insolvency help as soon as possible. Our licensed insolvency practitioners can offer free assistance, and guide you towards your best options.

These could include:

  • Additional finance

A number of different forms of alternative finance are available that aren’t reliant on a good credit score. These include merchant cash advances, which provide regular cash injections based on the number and volume of your card sales.

  • Time to Pay (TTP) arrangement with HMRC

If you’re in arrears with tax or National Insurance payments, you may be able to negotiate extra time to pay HMRC. They offer an instalment plan called a Time to Pay arrangement, which typically provides between three and six months to repay. You’ll need to keep up with your current tax and NI liabilities, but a Time to Pay arrangement can help to reduce the pressure on your shop’s finances.

Other insolvency procedures could also be appropriate depending on your circumstances, potentially including company administration and pre pack administration.

Real Business Rescue focuses on business recovery rather than closure, and will provide reliable independent advice if you’re facing financial distress. Please contact one of our partner-led team to arrange a free same-day consultation – we operate a large network of offices throughout the UK.

Jonathan Munnery


0800 644 6080
Director Support - Business suffering from Cash-Flow Problems?
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