FRP Advisory news and archive

High street administrations led to 735 store closures in 2014

Although retail administrations led to the closure of 735 stores and close to 5,000 job losses in 2014, the UK high street is said to be showing signs of recovery and is "re-emerging" after four years of struggles according to a new report. Last year saw 13 major high street retailers entering into administration, including La Senza, Jane...

Design

In fashion, out of work

Store closures, shrinking fashion departments and brands going bust has meant 15,000 people in retail are without work, according to restructuring firm FRP Advisory. Following 16 retail administrations this year alone, FRP Advisory partner Glyn Mummery said that “the high street will be unlikely to ever return to anything approaching the format...

Design

High street stores in recession

High Street stores are already in a triple-dip recession after a sharp rise in the number of shops going bust at the end of the year. The survival rate for retailers that fall into administration has fallen from 66 percent this time last year to 50 percent, according to FRP Advisory, an insolvency specialist. If any more chains go into...

Fashion

Aquascutum factory to close

Following the decision earlier this week to enter administration, British Heritage brand Aquascutum, which is owned by British Fashion Council chairman Harold Tillman, has announced that it has closed down its UK manufacturing plant in Corby, with the loss of 115 jobs. The 100-year-old factory was closed with immediate effect due to “loss-making...