July 24 2014 Latest news:
Saturday, January 4, 2014
Better news for the retail trade
The number of retailers going into administration during 2013 fell by 6% overall compared to the year before though there was a marked upturn during the final quarter of the year.
Research from business advisory firm Deloitte found 183 retailers entered administration over the last 12 months compared with 194 in 2012.
High street firms were thought to be benefiting from being left standing after the collapse of rivals.
But the last three months of the year saw an increase of 11% compared to the previous fourth quarter - from 37 to 41.
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.
“A year ago we were about to see HMV, Blockbuster and Jessops enter administration, but I would not expect as many high-profile retail casualties this time round.
“This does not mean demand is increasing, more that the clear-out will benefit those still standing in 2014.”
In total, 1,629 businesses went into administration in 2013, 11% down from the figure of 1,833 seen the previous year.
Almost all sectors tracked in the analysis saw a decline in the number of business failures - including a 24% fall in property and construction, and a 4% decrease among manufacturing firms.
The healthcare and social services sector saw an increase of 7% from 42 to 45, the analysis found.