The retail sector has borne the brunt of company failures in the past quarter, with the number of companies with a winding up order or in liquidation rising by 41.8% compared with 2010.

The increase is more than double the rate for all businesses: 20.3%. A total of 7,994 businesses failed in the quarter, but still well down on the record 8,874 seen in the second quarter of 2009, according to Equifax.

‘This new report continues the disappointing trend we saw start in the summer,’ says Mark Nuttall, Equifax commercial and SME, director.
‘The reality is that businesses are continuing to find it much harder to keep their heads above water as the economy fails to pick-up. The failures in the retail sector in particular reflect the lack of consumer confidence being reported from the high street.’

The numbers exclude companies in administration, receivership and company voluntary arrangements.

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