Recent figures show that retail insolvencies have hit an unexpected five year high and the number of shoppers visiting shops on the high streets has fallen for the second month in a row.
During 2013 almost 1,300 retailers were declared insolvent, which is an increase of 12% from 2012. This increase has been blamed on the rise of the supermarket convenience stores such as Tesco Extra which has driven corner shops and small retailers into insolvency procedures.
Added to this the use of internet shopping has meant that footfall on the high street has decreased over the past few months by 9% according to data from the British Retail Consortium and Springboard.
