insolvency figures

Insolvency Figures Spike for Q1 2012

Approximately 5,600 UK businesses became insolvent in the first quarter of 2012 — representing a rise of 5% on the previous quarter and the highest number since the fourth quarter of 2009 (5,834). The figures were released by accountants, RMS Tenon and were collated using the firm’s early warning system, Tracker. The insolvency rates vary between sectors and regions. Fewer companies in the manufacturing industry are going bust, compared to previous years. And yet the number of manufacturing businesses that are showing signs of “critical financial distress” is still high, according to RMS Tenon. Approximately 25% of total insolvencies in the first quarter of the year were in the business service sector. Those suffering badly include equipment suppliers, IT consultancies, design ... »