More than one in 10 firms in the retail, hospitality and construction sectors are at risk of going bankrupt in the next 12 months, as high interest rates and the slowdown in consumer spending pile pressure on company finances.

Research from credit bureau Illion, released to The Australian Financial Review, found that 14 per cent of food services firms, 11 per cent of construction companies and 10 per cent of retailers were at high risk of failing in the coming year.