New PricewaterhouseCoopers (PwC) figures show retail insolvencies surged by almost 25% in the first quarter compared with the last quarter of 2008.
The increase year-on-year amounted to 60%. PwC said the mantra for 2009 would be “survival of the fittest”.
Hotels have also been suffering with the number of insolvencies in the first quarter up by almost a fifth on the previous quarter and 188% year-on-year.
27/04/09 Times 49 Daily Telegraph B3 Independent 35
