Administration Watch | Q2 2012
Major Retailer Administrations Cost Over 13,000 jobs in First Six Months of 2012
During the first six months of 2012, the number of jobs lost to major retailer administrations was 13,020, marginally higher than the same period in 2011.
In addition to the loss of jobs, these administrations led to the closure of an estimated 1,260 retail stores across the UK's high streets, shopping centres and retail parks. The number of store closures marked an 80% increase on the first half of 2011.
The number of administrations has shown signs of slowing throughout the period, with a spate of large store closures and job losses in the early part of the year, following Christmas. The second quarter saw only one 1,000+ job loss administration (Clinton Cards), while the first quarter record four - most notably Game.
With the economy staying in recession during Q2 2012, the outlook for the retail sector remains difficult. Ethel Austin fell back into administration for the fourth time in July.