Scottish retail sector reports highest level of insolvencies for Q1

 Tuesday, 7th May 2019 13:56

The Scottish retail sector has recorded its highest ever quarter for insolvencies in the first three months of 2019, a leading accountancy firm has disclosed.

28 retailers were made insolvent in Q1 – 40% of the entire figure for 2018 when 68 retailers entered insolvency over the course of the 12 months.

Eileen Blackburn, Head of Restructuring and Debt Advisory at French Duncan LLP, said 


“Given that the retail sector has been experiencing steady very high numbers of business failures over a prolonged period this does not bode well for an uplift in the sector, despite recently reported improved sales figures. Clearly, there are major problems with retail which are not being addressed.”

Read the full story

Eileen Blackburn, Head of Restructuring and Debt Advisory at French Duncan LLP, said 


“Given that the retail sector has been experiencing steady very high numbers of business failures over a prolonged period this does not bode well for an uplift in the sector, despite recently reported improved sales figures. Clearly, there are major problems with retail which are not being addressed.”

Read the full story here https://www.credit-connect.co.uk/commercial-news/scottish-retail-hits-highest-ever-quarter-for-business-insolvencies/ 
 

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