New figures from Insolvency Journal have found that the retail sector accounted for 14% of all insolvencies in 2013, with 190 retail businesses declaring insolvency during the period.
This, however, is a 14% drop on last year's figure.
According to insolvencyjournal.ie, 'Online shopping has become a major issue for retailers and a significant amount continue to struggle.
However as the winter sale season got underway on St. Stephens Day, Retail Excellence Ireland have confirmed its biggest sales success since Christmas 2008 with retailers reporting an overall increase of 20% in sales this year so far.'
Overall, business failures in 2013 totalled 1,365, a 19% reduction on the total of 1,684 for 2012 and a 17% decrease on the total of 1,638 recorded for 2011.
There were 363 examinerships recorded in 2013, a 9% drop on the previous year's figure of 399.
© 2013 - Checkout Magazine by Stephen Wynne-Jones