Administration Watch | Q1 2013
Retail administrations surge during the early part of 2013
A spate of high profile retail administrations during January, led to a surge in the number of store closures and retail sector job losses during the first three months of the year.
During Q1 2013 the failure of well known high street brands such as HMV, Jessops and Blockbuster led to the closure of almost 750 stores across the United Kingdom. This represents a 70% increase on the previous quarter, but slightly down on Q1 2012.
Despite some signs of economic improvement in the country, these administrations continued to put pressure on those working in the retail sector. Job losses directly associated with retail administrations in the first quarter have been estimated to be around 7,000.