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Retail administrations fall in 2013

The number of retailers going into administration in 2013 fell by 6% compared to the year before, according to Deloitte.

The accountancy firm found that 183 retailers collapsed into administration last year, down from 194 in 2012 and 183 in 2011.

Within fashion, young fashion retailer Republic, footwear chain Barratts, premium brand Nicole Farhi and independents Coggles and Ark all entered administration in 2013 following tough trading.

The last three months of the year saw an 11% rise in administrations compared to the fourth quarter of 2012.

Lee Manning, restructuring services partner at Deloitte, said: “The high street has undergone a re-balancing, and this is what is being reflected by these figures.”

He added: “Christmas trading appears to have been reasonable, though not spectacular as customers opted to stay away from the high street in favour of click and collect. It is essential that retailers address the fundamental issues affecting the industry. 2014 is likely to be marked by further closure programmes, both within and outside of formal insolvency processes.”

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