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Job Losses Due To Administrations in the UK Retail Sector

highstreetA recent report on the BBC website indicates that up to 10,000 jobs in the UK have been lost in the past year due to the struggling retail industry.

Deloitte released the figures, which demonstrate a 15% increase of retailers going into administration.

The figures show a 15% increase during the first quarter of 2012 and they are higher than last year’s figures. According to the report, 69 firms failed and 10,000 job losses came as a result of the administrations.

High street retailers La Senza and Peacocks are amongst the list, and the most recent brand to enter administration is games retailer Game.