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 administration over the new year period and fail to emerge successfully, the store survival rate will drop below 50 percent for the first time.

FRP Advisory is a team of restructuring, recovery and insolvency specialists. The company aims to enhance the performance of businesses, as well as saving businesses in distress.