20% decline in business failures

There has been a 20% fall in the numbers of business failures in the first three months of 2013 compared to the same period last year.

Figures released by Kavanaghfennell show that the number of business failures declined from 433 in the first quarter of last year to 347 this year.

The retail sector continues to struggle as the sector recorded an increase in business failures as the overall number fall. There has been a 37.5% increase in retail failures, from 40 in the first quarter of 2012 to 55 in the first quarter of 2013.