61 shops announce closures in 10 days: Will liquidation numbers get worse before they improve?

We are only half-way through the first month of the year and already the business closures are mounting.

EB Games will close its shops at the end of the month. Miniso and Yoyoso shops are in liquidation. Wellington’s Leuven Belgian Beer Café will close after 25 years in business.

Smaller centres are also affected. Whangārei’s Rodney Wayne said it was closing its doors, as was nearby Orrs Pharmacy, which has been open 80 years.

While economic improvement is on the horizon, there are warnings that the number of businesses closing could get worse before it gets better.

Economist Shamubeel Eaqub said the rate of closures often picked up at the start of a recovery.

“Particularly for some sectors,…