The number of retail administrations increased 8% year-on-year in the second quarter.
43 retailers went bust, compared to 40 last year, according to advisory firm Deloitte.
Deloitte restructuring partner Lee Manning said: “The retail sector is going through a significant period of change with many companies buckling under the pressure of weakened consumer confidence and a sluggish economy.
“Whilst the overall increase in the number of retail failures this quarter is relatively small, we have seen a significant number of household names falling into administration including Oddbins, Moben, Dolphin, Focus DIY, Habitat and Jane Norman. This signifies that the severity of retail distress is far greater than the absolute figures suggest.”
Manning predicted that the number of retail administrations is likely to increase as the year goes on.
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