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Retail insolvencies up 10% as high street remains on thin ice Monday, 30th July 2012
Retail bankruptcies are up by 10 per cent as the British high street continues to flounder.
Clinton Cards and Game are among the most well-known high street retailers to succumb to the retail industry gloom over the past three months.
According to PricewaterhouseCoopers, 426 businesses hit the wall in the second quarter, up from 386 a year ago.
The total number of corporate insolvencies fell 3 per cent year-on-year to just shy of 4,000.
The overall decline in insolvencies is expected to encourage hope that the Olympics will further boost recovery in the third quarter.