Britain’s coastal towns dominate a list of areas which suffered from the highest level of bankruptcies last year, according to a new study reported on by The Sun.

Research from accountancy group UHY Hackey Young suggests seaside towns are struggling to recover from decades of decline in shipbuilding, fishing and tourism. According to the report, coastal towns outside of the South East of England have struggled to replace their traditional industries with sectors such as financial services and technology. Highly educated young people are also moving to more prosperous parts of the UK, leaving behind a population of pensioners. Peter Kubik, Partner at UHY Hacker Young, said: "People living in seaside towns continue to fall into bankruptcy as the coastal economy fails to keep up with the rest of the country. Coastal towns such as Blackpool are clearly struggling to reinvent themselves and throw off their old image. Further investment is going to be needed to help these towns unlock their potential."

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The Sun - DROWNED OUT Britain’s coastal towns see highest rates of bankruptcy despite rise in staycations