Number of UK retailers on brink of collapse soars by 25%

Report for final three months of year shows pressure driven by rising costs and weak consumer confidence

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The number of UK retailers on the brink of collapse has risen by a quarter in the final three months of the year, driven by a combination of rising business costs and weak consumer confidence, according to a report.

The proportion of retail businesses classed as being in critical" financial distress increased by 25% to 2,124 in the fourth quarter compared with the previous three months, the insolvency specialists Begbies Traynor said.