Bulletin

Stores and staff survive cuts on the high street

Research by restructuring firm FRP Advisory suggests that high street retailers are showing signs of recovery. Only three big retailers have fallen into administration so far this year, compared with six in the same period in 2014. Of the 125 stores to be affected by the administrations of fashion chains Bank, USC and Sphere & Turret since the beginning of January, FRC found that about 70% survived as operating premises, mainly under new owners. That compares with 320 stores affected over the same period last year, where the survival rate of stores in administrations stood at 42%. About 4,900 store workers lost their jobs in administrations last year, a staff survival rate of 50%, which was higher than the 46% in 2012 and 48% in 2013. 

 

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