Half of Britain's high street chains could enter administration by the end of summer, as they struggle to manage their cashflow during the coronavirus lockdown, a worrying new report has warned.

A study of 34 retailers in Britain found that five already had negative cash flow before the pandemic had even begun, relying on credit to fund any investment.

The report, carried out by Alvarez & Marsal, the firm managing the collapse of Cath Kidston and sale of footwear chain Office, comes just a day after ministers warned of up to two million job losses due to coronavirus.

The Treasury said unemployment could soar to 3.4 million sparking the worst financial crash on record. The figures, produced by the Office for Budget Responsibility, predict

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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