Retail administrations down 6% on last year
The study by business advisory firm Deloitte reveals that 183 retailers entered administration in 2013, compared with 194 in 2012 and 183 in 2011.
However, there was an increase of 11% in the last three months of the year compared to the previous fourth quarter.
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 compared with 1,833 last year, which was a fall of 11%.
Almost all of the sectors tracked in the analysis saw a decline in the number of business failures including a 24% drop in the property and construction industry, and a 17.5% decrease among hospitality and leisure firms. However, administrations in the healthcare and social services sector increased by 7%.
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