Indicators of problems in the high street – ranging from downsizing and profit warnings to administration – leapt by 56% in the first quarter of the year on the previous three months, up 42 to 116 negative statements.
The figure was almost unchanged from the same period in 2003, when war in Iraq and SARS helped inflate the number of warnings.
Across all sectors there was a 10% year-on-year decrease of negative warnings, though they rose marginally on the previous quarter.
Philip Davidson, KPMG’s head of restructuring, said: ‘Retailers are once again not finding it easy to make profits this quarter, as margins remain under pressure and keen pricing is required by consumers.’
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory
Lifestyle Living UK is being marketed for sale by FRP Advisory administrators