Almost 30 retailers insolvent to start 2019

Almost 30 retailers were made insolvent in the first three months of the year, wi t h b u s i n e s s e x p e r t s warning time may be running out for the high street.

The Scottish retail sector recorded its highest quarter for insolvencies from January to March, accordi ng t o accountants and business advisers French Duncan LLP.

A total of 28 stores failed over the period compared with 68 recorded for the whole of last year.

Fr e n c h D u n c a n s u g - gested there were “major problems” i n t he retail sector that needed to be addressed.

Eileen Blackburn, head of restructuring and debt advisory, said: “Given that the retail sector has been experiencing steady, very high numbers of business failures over a prolonged period, this does not bode well for an uplift in the sector.”