The number of retail businesses closing due to insolvency continues to fall but the hospitality sector continues to struggle, the latest PwC insolvency barometer reveals.
The report, analysing insolvencies for the first quarter of 2025, shows there were 192 insolvencies in the first quarter of this year – 14% fewer compared to the first quarter of 2024 (222), and 7% fewer compared to the last quarter of 2024 (207).
Retail recorded 25 insolvencies for the first quarter of 2025, a 40% decrease compared to the same quarter in 2024 (42), and down 38% from Q4 2024 (40).
However, the hospitality sector remains under pressure, with 43 recorded insolvencies in the first quarter of 2025, a rate in line with 2024 figures. Some 26 restaurants, seven…
