Failed retail ventures rise by 77%

There has been a 77% increase in the number of retail businesses that have failed this year compared to the same period last year, according to Insolvency-journal.ie.

Retail insolvencies have increased by 28% since June of this year and by 77% compared to July 2011.

According to recent figures released from Retail Ireland, the Irish retail market has shrunk by more than one-fifth in value terms since the recession hit in 2007.