Administration Watch | March 2012
Major retail administrations cost 9,000 jobs in Q1 2012 (Released April 2012)
According to the latest research from The Retail Database, the number of jobs lost to major high street administrations increased to 9,000 in the first three months of 2012.
This rise in job losses marked a sharp increase on the previous three months when less than 1,000 jobs were lost.
The rise in job losses during Q1 2012 resulted from thirteen major high street administrations including Peacocks, La Senza, Bon Marche and Game.
In total these administration directly led to the closure of 820 stores, with the possibility of further store closures later in the year.
On a positive note, of those retailers that fell into administration during Q1 2012, the majority have found investment and have been brought out of administration.
The latest major high street administration casualty Game was brought out of administration in early April when it was purchased by OpCapita, securing 333 UK stores and safeguarding an estimated 3,200 jobs.