The insolvency sector is bracing for an increase in retailers going into voluntary administration to accelerate restructuring and gain protection from creditors such as landlords as they emerge from COVID-induced hibernation.

Insolvency practitioners believe more retailers will follow the lead of retailers such as PAS Group – which appointed voluntary administrators last Friday – and Jeanswest, Tigerlily and Bardot, which collapsed earlier this year. The three retailers have since been returned to their owners after closing stores, exiting leases, cutting staff and slashing overheads, but unsecured creditors received no return or were forced to take massive haircuts.