// Retail insolvencies reaches its highest level since 2012
// There were 802 insolvencies in the retail industry in the second quarter of 2022
New research has found that the number of insolvencies in the retail industry has reached its highest level since 2012.
The ONS found that there were 802 insolvencies in the wholesale and retail industry in England and Wales in the second quarter of 2022.
This is the highest number since the first quarter of 2012, which recorded 815 insolvencies.
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It is also a 122% year-on-year increase compared with the same period in 2021, and 32% higher compared to pre-Covid levels in the second quarter of 2019.
Almost 28% of businesses expected energy prices to be their main concern in early October 2022, according to the ONS fortnightly business survey.
It comes as company insolvencies across all industries in the second quarter of 2022 hit their highest quarterly level since 2009 at 5,629.
