Latest News from our Sponsors
27 August 2009 | K2 Partners - Digging in for the Long Term
Digging in for the Long Term
Corporate Insolvencies still on the rise
The first six months of 2009 has seen a total of 10,242 companies entering into insolvency; a 33.8% increase on the same period in 2008, showing that the recession is increasing pressure on UK businesses.
Pricewaterhouse Coopers LLP reports that they are now seeing quarterly numbers in the four and five thousands, double the previous norm. Worst hit sectors continue to be Construction (726 companies); Manufacturing (653); Retail (540); Hospitality and Leisure (227) and Real Estate (227). Regionally, London continues to have the highest number of insolvencies with a 43.6% increase on the same period last year, but in the East, South, South West and Wales there is a slower rate of increase, with Wales reporting only 4.4% more insolvencies than in the same period of 2008.
.jpg){kind=small}