New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23. High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch. Cautious…
Read moreWith six retailers have already gone bust in 2024 and two others warning that they may struggle to stay afloat KPMG is warning that more retailers could collapse, with high inflation and a squeeze on personal finances hitting consumer spending. According to figures from Centre of Retail Research (CEBR), over 400 job roles have been…
Read moreThe number of retail business insolvencies jumped 56% in the past year, to hit the highest levels in at least a decade – 1,942 in 2022/23, up from 1,243 in 2021/22 shows new research from international law firm RPC. Despite the challenges faced by the sector, the insolvency of financially weaker retail businesses is creating…
Read moreRetail experts at business advisory firm Quantuma has estimated that business failures in the retail sector could spike by as much as 71% in 2023. The Centre for Retail Research reported that in the first month of 2023 alone, seven retailers failed, impacted 361 stores and putting at risk 3,215 jobs. Quantuma Chief Executive, Carl…
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