The number of retailers going out of business in the second quarter jumped up by more than 10%, according to recent figures from PwC.
However, the corporate insolvency statistics show an overall reduction (3,927 companies) between April and June - down 3% on the same quarter (4,055 companies) in 2011.
This overall reduction in insolvencies is expected to fuel hopes that the ‘Olympic effect’ would reverse the economic rot in the third quarter, after the ONS delivered a shock announcement last week that GDP declined by 0.7% between April and June.
About Robert Lovell
Business and finance journalist