Insolvencies to accelerate in January, warns Hill Dickinson

The New Year is likely to see a sharp rise in the number of companies buckling under financial difficulties, according to Ralph Bullivant, property partner at law firm Hill Dickinson,

Bullivant, speaking at the firm's autumn property update briefing this week, said: "I believe we will see a lot more failures in the first few months of the New Year. There are many companies especially retailers who will struggle through Christmas and come to January only to find out they can't continue."

The next quarterly payments due for many retail tenants falls on 1 January, with many facing the prospect of not having sufficient funds to cover the rent.

Bullivant said he had seen more administration cases come across his desk in the past six months than the previous five years.