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UK insolvencies fall

Published on 23 Sep 2009 under category: legal

The insolvency rate for UK businesses has slowed, the latest figures has shown.

Statistics from Experian found that this fell by 23 per cent last month when compared to July.

This represents 1,796 companies going into insolvency in August, with these possibly requiring the expertise of insolvency solicitors.

Rolf Hickman, managing director of pH, which is a subsidiary of the researcher, had a warning for firms.

He said: "Businesses are distinctly aware of the current environment and the need to be cautious in any business dealings."

The figures also revealed that 0.09 per cent of companies went into insolvency last month, which is down from 0.11 per cent from July.

Elsewhere, figures from the Insolvency Service released in August revealed that personal insolvencies had risen.

The statistics showed a nine per cent spike in these during the second quarter, which also represented a 27 per cent increase from the same period last year.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.