Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Retail administrations rise in 2018

The number of retailers going into administration rose by 6% to 125 in 2018.

Research from Deloitte showed that the number of large businesses going under has also increased. Overall 26 large brands closed down during the year. House of Fraser, HMV and Toys R Us were among those that entered administration.

Commenting on the figures, Dan Butters, partner and head of restructuring services at Deloitte, noted that company voluntary arrangements (CVAs) were also on the rise: “Notwithstanding the increase in overall retail insolvencies, we have seen a significant increase in large retail insolvencies and CVAs in the last 12 months.

“Consumer confidence fell in the third quarter of 2018, which, combined with inflation-driven pressure on disposable incomes, has contributed to 12 consecutive months of declining footfall.

“The rapid decline in the performance of the high street has driven bricks-and-mortar retailers to increase their levels of discounting to counter this.”

Tags

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.