The number of retailers going into administration fell last year, according to business advisory firm Deloitte. Research found that 183 retailers entered administration over the last 12 months compared with 194 in 2012, a drop of 6%. Lee Manning, restructuring services partner at Deloitte, said:

"The high street has undergone a re-balancing, and this is what is being reflected by these figures.

"A year ago we were about to see HMV, Blockbuster and Jessops enter administration, but I would not expect as many high-profile retail casualties this time round.

"This does not mean demand is increasing, more that the clear-out will benefit those still standing in 2014"