Retailers in trouble as administrations jump

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The Independent Online

New administration figures reveal that the retail sector is under increasing pressure with the risk of collapse growing.

The number of retail companies falling into administration during the second quarter of 2011 increased by 8 per cent to 43, according to research by Deloitte.

Lee Manning, restructuring partner at Deloitte, said: "The retail sector is going through a significant period of change with many companies buckling under the pressure of weakened consumer confidence and a sluggish economy."

Long-established high street chains such as Oddbins, Habitat and Jane Norman were all hit by problems during the period.