CRR predicts 164 major company liquidations in retail by 2018

Published on May 31, 2013 by Crawfords Accounting

The Centre for Retail Research has forecasted 164 medium-sized to major company liquidations in the next five years, with substantial job losses and closures of retail premises as a result.

In its report, Retail in 2018, the analyst estimates that the 164 anticipated company liquidations could see the closure of around 22,600 stores, with 140,000 employees losing their jobs.

However, not all of the companies that enter administration will close completely, as the report expects many to survive, albeit with the loss of around half of their sites.

As usual, high streets could be set to suffer, particularly if they are unable to adapt to modern shopping habits and find alternative uses for former retail outlets.

But major brands could also be under threat, as the report notes that some household names have already scaled back on their plans to open new stores.

Supermarkets and DIY stores are among these, and many are also apparently planning to lease out space in their larger stores in order to subdivide them and effectively downsize without losing the property completely.

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