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.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children