BusinessBusiness Recovery1,382 to go bust on high street in 2008

1,382 to go bust on high street in 2008

Almost 1400 high street businesses to call in the administrators next year says BDO, as financial climate becomes even more hostile

High street insolvencies are set to rise next year, BDO has warned.

Many of the failures will happen in January as landlords call in rental
markers for the last quarter of 2007.

The firm said that 1,382 retailers were set to go bust in 2008 as the credit
crunch and rising bills take their toll.

The manufacturing, wholesale, real estate, transport and leisure sectors have
been highlighted as the ones most likely to be hit hardest in 2008.

Only the technology, media and telecoms sectors will experience a drop in
insolvencies, BDO added.

Further reading:

Libor will
force insolvencies, says E&Y

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