Retail insolvencies are on the up whilst manufacturing are down.

The UK’s multiple retailers closed 20 stores a day on average across the UK between January and the end of May this year, according to data compiled on behalf of PwC by the Local Data Company (LDC). The data also revealed that across multiple retailers in 300 town centres, clothes, shoe shops and jewellers have been amongst the hardest hit in 2011. Supermarkets, convenience stores and cafes have bucked the trend showing growth in the first half of the year.

PwC’s latest retail insolvency statistics for Q2 2011, released kast week, have also revealed that there were 375 retail insolvencies this quarter, 9% more than the same time last year.

PwC research indicates that, since the start of the recession, financially troubled retailers have closed, or plan to close, on average half their store portfolios as the high street comes under increased pressure. PwC examined the announcements of eight high profile failed or struggling high street retailers and found that on average 51% of the total store portfolio have or could be closed.

In contrast manufacturing insolvencies are down 26% in second quarter.

Data also from PwC confirms that manufacturing and construction have been the hardest hit sectors since 2009, although both did slightly better in the second qurter of 2011 than the first three months.

In total, 4,058 manufacturing companies collapsed between Q3 2009 and Q2 2011. The retail sector has also been badly hit more recently, with announcements from Thorntons clouding the skies of the UK recovery. In the same period, the retail sector has seen 3,513 companies collapse.

The reason for hope came from the comparison between Q1 and Q2 of this year – manufacturing insolvency was down by 26.5%. PwC’s manufacturing spokesperson Philip Hines said: “There still remains uncertainty over current manufacturing order levels and the continued strength of the recent manufacturing recovery. Unfortunately this could imply further insolvencies in the second half of this year."

It remains to be seen if these trends will continue.