Retail Insolvencies climb 19% in the UK

New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23.
High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch.
Cautious consumer spending, and higher interest rates have also impacted the rise. Retail sales have also dropped, with total in-store and online sales falling 2.2% in March