Rain blamed for high street woes

The wash-out start to the summer added to the woes of the high street and triggered a 10.3% rise in retail collapses between April and June, a report revealed today.

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Insolvencies down by 3%

Insolvencies across the wider economy, including other sectors such as construction and manufacturing, were down 3% on the previous year.

This adds weight to suggestions that recent official figures showing that gross domestic product (GDP) declined 0.7% in the quarter may be overestimating the severity of the double-dip recession.

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Heavy rain hits sales at high street stores

The wash-out start to the summer added to the woes of the high street and triggered a 10.3% rise in retail collapses between April and June, a report revealed today.

The rain has been blamed for high street woes Credit: Dominic Lipinski/PA Wire

The number of retailers to fall into insolvency rose to 426 in the second quarter of 2012, up from 386 in the previous year, according to a study by PricewaterhouseCoopers (PwC).

The number of casualties has been escalating year-on-year for each of the past four quarters, highlighting the squeeze on the high street.

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