Seven retail businesses collapse on a single working day and are among 705 to
go into insolvency between January and March this year, up 60% from the same
quarter a year earlier, according to PricewaterhouseCoopers.
Retailers with inappropriate capital structures and poor value propositions
will be weeded out one by one, PwC told The Independent.
PwC says the number of insolvencies could well have peaked in the first
quarter, but it was expecting more retailers to fail over the coming months.
The fallout could spread to include well-run retailers whose sales volumes
plunge amid the recession.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies