Red Sea attacks reportedly impacting Matalan stock

British fashion retailer Matalan is understood to be tackling stock issues in light of the ongoing attacks in the Red Sea, where container ships are facing delays.

As such, the company is said to be undergoing its own setbacks, according to Retail Week, which noted that many ships are being forced to reroute around South Africa.

A spokesperson for Matalan told the media outlet: “Like countless other businesses, we are being affected by the disruption in the Red Sea.

“We have put plans in place to minimise the impact on our customers and are monitoring the situation closely.”

Issues in the Red Sea came to light in November last year, when a Yemen-based Houthi rebel group was reported to be attacking commercial ships in the Suez Canal, one of the most important avenues for the global shipping industry and the shortest route from Asia to Europe.

As such, many companies are being forced to either reroute or to transport goods through more expensive alternatives, such as rail and air.

Polish retailer LPP, for example, told Reuters earlier this month that it was considering such alternatives for its “most-urgent” collections, while a similar sentiment was expressed by Next’s chief executive Simon Wolfson, who had warned that stock delivery delays were anticipated in the early part of the year.