Although the start of a new year may be a notoriously bad time for retailers, Deloitte have released figures stating that 2014 on the whole was a much better year in terms of retail administrations compared to 2013 providing a reassuring outlook for the industry.
The retail sector saw the largest improvement in 2014, with the hospitality and leisure sector not far behind with 34% fewer administrations than in 2013.
A spokesperson for Deloitte says there is now “greater emphasis towards constructive debtor-driven solutions involving negotiations with creditors, either informally or through the use of CVA’s where in both circumstances companies will work alongside restructuring professionals.”
Read the full story here:
http://www.insolvencynews.com/article/17583/industry/retail-administrations-drop-35-in-2014
