The soaring cotton price pushed the British textile industry to the brink of death

According to recent reports from international media, the sharp increase in cotton prices has placed Leicester's textile industry in a precarious situation. Companies like JackMasters, a UK-based knitting firm that primarily serves the U.S. market, and HJ Hall, a well-known sock manufacturer, have seen their profit margins shrink significantly due to rising production costs. This financial pressure is putting many local businesses at risk of collapse. As the UK's value-added tax continues to climb, economic instability is expected to worsen, especially with rising unemployment rates. By the end of this year, domestic manufacturers are likely to face a double challenge: high input costs and declining consumer demand. Industry experts predict that profit margins will continue to fall unless new strategies are implemented to offset these pressures. While some analysts believe the British textile sector could rebound by next year, uncertainty remains regarding the impact of currency fluctuations on export-oriented businesses. A stronger pound against the euro could once again hurt exporters, making it difficult for them to maintain competitiveness in international markets. As the sector navigates these challenges, many are calling for government support and long-term policy changes to ensure its survival and growth.