High-street insolvencies rise for first time in five years

Higher wage costs, a weaker pound and soaring business rates have hit UK retailers hard

Britain's high street retailers are in crisis
(Image credit: Christopher Furlong/Getty Images)

The number of high-street casualties rose for the first time in five years in 2017, as retailers struggled with rising wage costs, a weaker pound and soaring business rates.

Fresh analysis by Deloitte has revealed the number of retailers going into administration increased by 28% last year, the first time it has risen since 2012 and the peak of the recession.

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