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News - 2 January 2013

The state of the High Street


The number of retailers that collapsed into administration last year increased by 6% compared with 2011.

According to research by advisory firm Deloitte, 194 retailers went into administration in 2012, compared with 183 in 2011 and 165 in 2010. But there was a slight fall in the last three months of the year compared to the fourth quarter of 2011, when 37 retailers collapsed compared to 42 in the same quarter of the previous year.

There was a 7% drop in administrations in the property and construction business, down to 426 compared with 457 in 2011.

In total, 1,833 businesses went into administration in 2012, compared with 2,010 in the previous year, a fall of nearly 9%.

Lee Manning, restructuring services partner at Deloitte, said: “These figures are a stark reminder of the difficulties which continue to face the high street. It is also notable that high profile, nationwide chains continue to be among the casualties despite the shake-up seen in the sector since 2008. In 2012 alone we have seen Peacocks, La Senza, Blacks, Game, Clinton Cards, JJB Sports and Comet enter administration.”

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“Almost all of the sectors tracked in the analysis experienced a decline in the number of business failures last year. However, there were 21% fewer administrations in the hospitality and leisure sector and 9% fewer in manufacturing.”


If you need any help and advice for your business on this or any other business related matter, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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