Fewer retailers collapse during 2013

The number of shops going into administration over the last twelve months fell by 6 per cent overall compared to 2012, a leading accountancy firm has announced.

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Closing down
The number of shops going into administration was greater at the end of 2013 than it was at the same time the year before. Credit: PA

Figures from business advisory firm Deloitte found 183 retailers were forced to shut down last year, while 194 closed their doors in 2012.

However, there was an 11 per cent increase in the number of shops entering administration in the last three months of 2013 compared to the previous last quarter.

Lee Manning, restructuring services partner at Deloitte, said described the British high street had gone through a "re-balancing," which was reflected by these figures.

"This does not mean demand is increasing, more that the clear-out will benefit those still standing in 2014."

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