High Street stores push shoppers into debt and rake in millions with instant credit schemes

Industry News | 06/12/19

Consumer debt levels rose to a record high of £225 billion last month. Britain’s biggest high street stores are accused of pushing shoppers into record levels of debt as they pocket hundreds of millions of pounds from credit schemes that charge up to 30 per cent interest. As shoppers splashed out an estimated £2.5 billion on Black Friday bargains last week, companies such as Next and Argos ramped up profits from selling expensive credit, a Times Money investigation has found.

Source: The Times