Insolvencies show decline in August

Receivership and administration order appointments in August dropped 34% on July’s total, according to the latest figures released by Deloitte & Touche.

Last month saw 122 appointments, down from 186 in July, but August’s total remains on a par with the average for the second quarter of 1996.

The figures, which were compiled from the London & Edinburgh Gazettes, also show that August 1996 appointments were 29% down on August 1995.

All regions benefited from the fall in insolvencies except East Anglia, where numbers increased from six to 11. Wales escaped without a single appointment.

London and the south east claimed the largest decrease, with 49 appointments in August compared to 70 in July.

National Westminster Bank made the most appointments, 18, just ahead of Barclays on 17, Bank of Scotland on 12 and Midland Bank on 11, with Lloyds trailing on 8.

Ralph Preece, partner in charge of corporate recovery at Deloittes, said the August decrease in appointments covered all industry sectors, but was concentrated in construction, wholesale and other services.