Drop in Cases of Retail Administration

New Year figures indicate a drop of 6% in the number of retail companies entering administration in 2013. There were 183 retail businesses that entered administration in 2013, which is the same figure as that of 2011. In 2012, 192 retailers went into administration. Ashley Park Financial Solutions are certainly glad to see things moving in the right direction.

There was, however an elevated number of retailers entering administration in the final quarter of the year, with 41 retailers in financial trouble compared with 37 for the same period in 2012.

The data was compiled by Deloitte, and their spokesperson has stated that this drop in cases of administration shows a rebalancing of the high street. He cited the losses of Blockbuster and Jessops and predicted that we are less likely to have major high street casualties like these again this year.

While it doesn’t necessarily mean that the demand for high street retail products is increasing, it does indicate that the retailers left standing can benefit from the gaps in the market. Christmas trade was reasonable, though Internet services still seemed preferable, with many shoppers opting to click and collect. January sales have so far been busy, with John Lewis reporting healthy sales.

According to the figures, there has been an overall drop in businesses entering administration this year from 1,833 to 1,629. The only sector that saw an increase in administrations was the health and social care sector. 

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Christmas Dinner on a Budget

According to the annual Christmas survey from Good Housekeeping you can treat your family to a fantastic festive dinner this year for as little as £21.85 for a family of eight, which works out at just £2.73 per person! Here at Ashley Park Financial Solutions, we think that’s an absolute bargain, so we thought we’d share where and how to shop to get the best Christmas deal this year.

The full Christmas dinner, according to Good Housekeeping, includes turkey, stuffing and cranberry sauce, sprouts, carrots, potatoes, mince pies and brandy butter. For the best one-stop shop, bargain hunters are best to head for Lidl, where you can get everything for £27.33. Morrisons offers it all for £30.54, with Aldi coming a close third at £31.30. Tesco, who have struggled to compete with budget supermarkets this year came in fifth at £34.03, after Asda at £33.12.

Surprisingly Iceland, usually included in the list of budget shops has a slightly more expensive Christmas dinner priced at £35.75, though it’s still far cheaper than Marks & Spencer and Waitrose, who top the bill at £51.29 and £53.15 respectively.

Anyone aiming for that awesome price of £21.85 will need to shop around though, heading to a number of different supermarkets to pick up the components separately. For more information, click here.

Bear in mind though, if you’re going for a budget bird, you should be careful. Sometimes during the cooking process the meat can “shrink”, which means you’ll actually get more meat for your money with a better quality, slightly more expensive bird. You could also think about making your own mince pies. There are some fantastic recipes available online, and a bit of Christmas baking is bound to get you in the festive spirit! Similarly, you might like to try whipping up a Christmas cake. You could even get the kids in to help you decorate. Check the cupboards to see if you have any leftover dried fruit, nuts and marzipan before you start and save even more!