The fashion retail sector proved the most likely to call in administrators over the last decade, accounting for 41% of all business administrations during the ten year period, new data has shown.
Clothing businesses accounted for 41% of 186 administrations from 2010 to 2019, a report from commercial finance experts ABC Finance indicates. The figure dwarfs that of the household essentials sector, which came in second and was responsible for 19% of administrations.
Of the high street businesses to file for insolvency in the decade, BHS ranked top for job losses. Its 2016 administration resulted in 11,000 staff being made redundant.
Debenhams, which successfully passed its company voluntary arrangement in 2019, ranked sixth as a result of 4,000 job losses.
Of the total 21,816 jobs lost over the period, fashion and clothing administrations were responsible for 27% amounting to 34,486 jobs.
|Position||Business||Year of insolvency||Number of job losses|
|9/10/11||Toys R Us||2018||3,000|