Falling into administration – should you be worried?
As the number of companies in administration rose by 31% in Q4 2022, we have seen many high-profile retailers fall into administration. With the help of an expert from Begbies Traynor, here is what the process entails
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Since the beginning of a new decade, we have heard of many high-profile retailers such as Made, Missguided, Joules, Paperchase, M&Co and Kath Kidston fall into administration to varying degrees of success. This is no coincidence; during 2022, administrations were actually 55% higher than the previous year, according to government statistics, while the number of companies in administration rose by 31% in the final quarter of 2022.