Rise in number of UK companies entering administration

Construction and retail badly hit as 1,400 firms went into administration last year

The number of firms collapsing into administration across England and Wales rose by nearly 5% to more than 1,400 last year, according to the accountancy firm KPMG.

Brexit uncertainty and economic turmoil created a particularly tough year for the building and construction industry, while the real estate and property sector also suffered, it found. The demise and ongoing restructuring of a large number of high street retailers has had a "profound" impact on commercial property income and values.