Experts have warned that the retail industry is on high alert following the release of 2017 insolvency figures, which revealed rising liquidation rates.
According to The Insolvency Service, 17,243 companies entered insolvency in 2017, rising 4.2 per cent year-on-year.
This was driven by an 8.3 per cent rise in creditors voluntary liquidations (CLVs) in which companies sell off their assets in order to repay creditors.
The wholesale and retail industry was reportedly the third worst hit by insolvencies, seeing 2144 companies enter liquidation last year, a rise of 2.2 per cent.
Experts have warned that the sector was particularly vulnerable due to falling consumer spending.
Two sectors in particular are on high…
Read the full article at: https://www.retailgazette.co.uk/blog/2018/01/retail-sector-on-high-alert-as-company-insolvency-rates/
