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Wednesday 4 July 2012

Retail Sector Insolvencies on the Rise

The number of retail sector failures has risen by more than a third recently.

Around 670 retailers went bust during the first quarter of 201 which is a 38% rise against the 486 that became insolvent during the last quarter of 2011.

This is a 3% increase on the number if businesses that failed during the same period last year, confirming that this year is in fact worse for insolvency figures.

The retail sector has been struggling to get back on its feet since the first recession that began in 2008. Since this period the UK has slipped back into a double-dip-recession and has forced many business to consider voluntary insolvency solutions such as liquidation or company voluntary arrangements.

Many are blaming the double-dip-recession for pulling the retail sector back down into insolvency.

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