Exclusive tabular insight into debt levels of some of the UK's major retailers.
Lesson one from our exclusive research into the UK's most indebted retailers: don't let your debts exceed your net worth.
When Peacocks followed La Senza over the financial cliff edge into administration last month, questions were asked â quite correctly â about the impact of leverage on the modern retail business model.
Recipe for retail 2011: take an excess of bricks and mortar, stir in upward-only rent reviews, add a splurge of suicidal discounting and drizzle with debt. The result? Disaster on a grand scale.