top of page

Retailer Insolvencies Decrease 17% In March



The latest insolvency figures for England and Wales show a 17% decrease in all company insolvencies in March 2024 compared with the month prior, yet figures remain much higher than seen during the COVID-19 pandemic.


Oliver Collinge, Director at restructuring and insolvency firm, PKF Littlejohn, says that despite the fall in numbers the corporate failure rate remains unusually high. These statistics and the recent failure of some high-profile businesses like Body Shop and Ted Baker are a reminder that there is still significant uncertainty in the UK economy and many businesses remain vulnerable.

“Although the latest figures show a fall overall, corporate insolvencies remain at a very high level and, whilst high profile casualties tend to grab the headlines, it is worth considering how the climate of economic uncertainty affects SMEs, which make up 99% of all UK businesses. Ongoing supply chain challenges, weak consumer confidence and a consistently high cost of doing business all present real challenges.

“It's critical that businesses act early and seek advice if they are struggling, or if they expect their cash flow to be limited in the coming months. The earlier they act, the more options they will have to secure the long-term survival of their business. This is crucial to enable SMEs, which are at the core of the UK economy, to survive and thrive.”

Most Read

Oodles Of Noodles: A Culinary Journey Through The World Of Noodles

Oodles Of Noodles: A Culinary Journey Through The World Of Noodles

Noodles, the beloved and versatile staple found in cuisines across the globe, have been captivating taste buds for centuries. From the...

Major Global Survey By STEP Reveals Attitudes To Wealth

Major Global Survey By STEP Reveals Attitudes To Wealth

STEP, the professional body for trust and estate practitioners, has today launched a major report Attitudes to Wealth – the first STEP...

Furniture Village To Open In Glasgow

Furniture Village To Open In Glasgow

Furniture Village is delighted to announce that it has recently exchanged contracts on its largest store to date, in a prominent location...

Categories



The latest insolvency figures for England and Wales show a 17% decrease in all company insolvencies in March 2024 compared with the month prior, yet figures remain much higher than seen during the COVID-19 pandemic.


Oliver Collinge, Director at restructuring and insolvency firm, PKF Littlejohn, says that despite the fall in numbers the corporate failure rate remains unusually high. These statistics and the recent failure of some high-profile businesses like Body Shop and Ted Baker are a reminder that there is still significant uncertainty in the UK economy and many businesses remain vulnerable.

“Although the latest figures show a fall overall, corporate insolvencies remain at a very high level and, whilst high profile casualties tend to grab the headlines, it is worth considering how the climate of economic uncertainty affects SMEs, which make up 99% of all UK businesses. Ongoing supply chain challenges, weak consumer confidence and a consistently high cost of doing business all present real challenges.

“It's critical that businesses act early and seek advice if they are struggling, or if they expect their cash flow to be limited in the coming months. The earlier they act, the more options they will have to secure the long-term survival of their business. This is crucial to enable SMEs, which are at the core of the UK economy, to survive and thrive.”

Most Read

Oodles Of Noodles: A Culinary Journey Through The World Of Noodles

Oodles Of Noodles: A Culinary Journey Through The World Of Noodles

Noodles, the beloved and versatile staple found in cuisines across the globe, have been captivating taste buds for centuries. From the...

Major Global Survey By STEP Reveals Attitudes To Wealth

Major Global Survey By STEP Reveals Attitudes To Wealth

STEP, the professional body for trust and estate practitioners, has today launched a major report Attitudes to Wealth – the first STEP...

Furniture Village To Open In Glasgow

Furniture Village To Open In Glasgow

Furniture Village is delighted to announce that it has recently exchanged contracts on its largest store to date, in a prominent location...

Categories

The Quiet Storm: Living With Dementia

The Quiet Storm: Living With Dementia

It often begins so subtly that it’s brushed aside. A misplaced set of keys, a forgotten appointment, the name of a neighbour lingering...

Raising A Cup On National Tea Day

Raising A Cup On National Tea Day

There are few rituals in British life as enduring or as universally cherished as the simple act of making a cup of tea. From the first...

A Global Celebration Of Garlic

A Global Celebration Of Garlic

As spring settles comfortably into its stride, bringing longer days and a renewed appetite for all things fresh and vibrant, there is one...

Recent Posts

bottom of page